The term of the current IMF Managing Director is due to come to an end this July, and it has been thought that the next choice of the post could have been drawn from an emerging economy. However some countries seem to back the incumbent to carry on.
It had been thought that the next choice to the post of IMF Managing Director could have been drawn from an emerging economy as a European has had held the top post for 70 years. Christine Lagarde though has proved to be a popular figure with both the major established countries and the developing economies.
However ahead of that date the UK, China, Germany, Mexico and France have all indicated they will back the incumbent to carry on for a second stint. Singapore has now also come out to support the nomination of Christine Lagarde for a second term.
The City State Endorses
In a statement the Monetary Authority of Singapore (MAS) has backed the selection of the next Managing Director of the IMF.
«Christine Lagarde has led the IMF through extremely challenging times internationally. She has done so with exceptional capability, and has won the trust of both its advanced and developing members. Singapore supports Ms Lagarde serving a second term, and I am confident she will continue to lead the IMF with conviction and in an inclusive way,» Tharman Shanmugaratnam, Chairman, MAS said.
