Christine Lagarde on February 19 was re-elected for a second term as head of the International monetary Fund. For the first time she took up this post in 2011, succeeding Dominique Strauss-Kahn.
Unlike the first elections, this time she had no rivals. Many countries previously said he would support the candidacy of the current head of the IMF. Lagarde after re-election were thanked for their trust and stated that, while the situation today differs significantly from the position in 2011, still require a significant level of cooperation between different countries.
Prior to joining the Navy Lagarde led the French Ministry of Finance. French police have launched an investigation against her in the summer of 2011, immediately after it assumed new responsibilities. It is suspected of malpractice and illegal payments of huge sums of money to the businessman Bernard Tapie, a personal friend of former President Nicolas Sarkozy. Lagarde categorically denies all charges in the address.
The international monetary Fund was founded in 1945 on the basis of decisions of the Bretton woods conference on monetary and financial issues. The main function of the IMF was to provide loans to stabilize the balance of payments of States and assist in the establishment of a multilateral system of international payments. The right to vote depends on the size of the contribution.