UK, Germany back Lagarde for new term at IMF

DAVOS, Switzerland, Rabi’II 11, 1437, Jan 21, 2016, SPA — 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, AP reported.
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.
For the IMF post, individual countries normally nominate their preferred candidate before the individual declares their intention to run.

14:22 LOCAL TIME 11:22 GMT