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Saturday 1 October 2016

Noonan backs Lagarde for second term as IMF chief

Published 22/01/2016 | 02:30

Christine Lagarde, Managing Director, International Monetary Fund (IMF). Photo: Reuters
Christine Lagarde, Managing Director, International Monetary Fund (IMF). Photo: Reuters

Finance Minister Michael Noonan has joined European colleagues in backing Christine Lagarde for a second term as head of the International Monetary Fund.

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He described her as a capable leader who had shown a "helpful" understanding of Ireland's position.

The Washington-based Fund said it plans an open selection process for its top job and began accepting nominations yesterday, even though Ms Lagarde has said she is open to another term leading the crisis lender. Ms Lagarde's initial five-year term as managing director expires on July 5, and IMF executive board member Aleksei Mozhin said he expects the board to complete its selection process by early March. There are no obvious challengers to the former French Finance Minister.

UK Chancellor George Osborne said he would nominate Ms Lagarde for a second term, a move supported by Mr Noonan.

"I would like to join with my European colleagues in welcoming the nomination of Christine Lagarde for a second term as Managing Director of the IMF," Mr Noonan said.

"During the global financial crisis Christine Lagarde demonstrated that she was a very capable leader who not only fulfilled her primary role in managing the IMF but also demonstrated a high level of understanding of the difficulties and complexities associated with the crisis and its management."

Irish Independent

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