Selection of the new Managing Director for IMF

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The selection process for the next managing director to replace Christine Lagarde, at the International Monetary Fund (IMF) kicked off on Wednesday. Christine Lagarde’s term expires in July this year.

The IMF will receive nominations from January 21 to February 10. The 24-member executive board will select three candidates from the nomination list.

The IMF board is likely to complete the selection process by March 3. The new managing director’s team will begin on July 5.

Sources from the IMF noted that Christine Lagarde was open to work for a second term, however, reneged on her decision as no challengers have expressed running intention as yet.

Christine Lagarde, a former French finance minister, took over as the managing director of the IMF in 2011. She is the first woman to lead the Washington-based institution.