DAVOS, Switzerland (AP) – Britain and Germany gave their key backing Thursday for Christine Lagarde to stay at the helm of the International Monetary Fund for a second term. The savvy Frenchwoman, however, held back from confirming she wants the job.
While Lagarde has been widely praised for her leadership role at the organization, which has coordinated bailouts for countries and monitors reforms globally, developing countries have increasingly opposed an informal arrangement by which a European heads the IMF. The sister organization, the World Bank, has until recently typically been led by an American.
The IMF’s recent downgrade of growth forecasts and Lagarde’s future are on many minds at this week’s World Economic Forum gathering in Davos, Switzerland where she is a prominent presence.
British finance chief George Osborne issued a statement Thursday saying his government nominated her to stay in the post.
“At a time when the world faces what I’ve called a dangerous cocktail of risks, I believe Christine has the vision, energy and acumen to help steer the global economy through the years ahead,” he said.