Christine Lagarde has been appointed for a second five-year term at the head of the International Monetary Fund. The consensual decision of the 188 member-states of the organization was predictable considering that the former French Finance Minister was the only candidate to the position

“I am glad to have been given the opportunity to lead the IMF as its Managing Director for five more years,” a release citing her reported.  

Mrs Lagarde, 60, who obtained the support of many of IMF’s members, France and U.S.A included, will start her second mandate in July.

First woman to head the IMF, Christine Lagarde took over the post in 2011 replacing Dominique Strauss-Kahn who resigned after being accused of rape in a New York Hotel.

During her first mandate, she has overseen an easing of Europe’s sovereign debt crisis and introduced the Yuan into IMF’s basket of reference currencies, known as Special Drawing Rights (SDR).