12 February 2016
Media Release - #2016006, 2016

Australia welcomes nomination for Christine Lagarde as IMF Managing Director for a second term

The Australian Government welcomes and supports the nomination of Madame Christine Lagarde for a second five-year term as Managing Director of the International Monetary Fund (IMF).

Mme Lagarde is an excellent leader who has capably steered the IMF during a challenging period of global economic recovery.

Her inclusive approach and dedication to multilateral cooperation gives Australia confidence in her leadership of the IMF and its contribution to rebuilding strong, sustainable and balanced growth for the global economy.

She has made a strong contribution to furthering the credibility and legitimacy of the IMF, as a trusted source of global economic analysis and advice. Importantly, Mme Lagarde has actively increased the IMF's focus on Asia and strengthened relationships with countries in the region. She was also instrumental in securing the IMF's quota and governance reforms, which modernise the institution by increasing the representation of emerging and developing economies to better reflect changes in the weight of the global economy.

Accordingly, Australia is confident in supporting Mme Lagarde for a second term as IMF Managing Director.

We support the open, transparent and merit-based selection process that the IMF Executive Board has adopted for this position and look forward to a swift completion of the selection process.