Christine Lagarde to remain as IMF chief

France’s Christine Lagarde will remain as managing director of the International Monetary Fund for the 20162021 period, as there is no other candidate, the IMF said Thursday.

“The period for submitting nominations for the position of the next Managing Director closed on Wednesday, Feb. 10. One candidate, current Managing Director Christine Lagarde, has been nominated,” Aleksei Mozhin, dean of the IMF Executive Board, said in a statement.

“The Board’s goal is to complete the selection process as soon as possible,” he said.

Lagarde has support from a majority of IMF memberstates, including some that were not behind her in 2011, such as Russia.

She became managing director in 2011 after winning election over Agustin Carstens, now head of Mexico’s central bank, and is set to become the first IMF chief in more than a decade to serve a second term.

Her two immediate predecessors, Spain’s Rodrigo Rato and Dominique StraussKahn of France, resigned before completing their fiveyear terms.