She denies wrongdoing and the IMF board has expressed confidence in her at each stage of the legal procedure so far. Vice President Joe Biden joked that he should ask her for a loan, adding: "You're doing a superb job."Any rival candidacy would be just symbolic - to put down a marker for the next time," said a senior IMF source.Lagarde has said she will appeal against a judge's order that she stand trial in a case involving alleged favors for a business ally of then President Nicolas Sarkozy."These are very important institutional elements which strengthen the IMF," Padoan said. Davos: The darling of the Davos political and financial elite, Christine Lagarde has a second term at the helm of the International Monetary Fund sewn up just days after nominations opened, despite facing possible trial in France.Her political skills will be tested before her first term ends in July in convincing the IMF board to continue to lend some money in Greece's third bailout program."Her critics, who generally prefer not to be quoted by name, acknowledge the former national synchronized swimming team member's political skills as a negotiator and spokeswoman for the IMF but say she is wholesale slack adjuster not an original economic thinker, unlike Strauss-Kahn. We don't feel any counter wind.‘Terrific job’Italian Finance Minister Pier Carlo Padoan listed some of the reasons why Lagarde has earned such wide support since she replaced disgraced French IMF chief Dominique Strauss-Kahn in 2011 after he was arrested in New York for sexual assault, charges that were later dropped.Padoan cited her skill in shepherding through a reform of voting rights in the global lender, agreed in 2010 but long held up by the US Congress, to give greater weight to China and other emerging economies.Noting that the reform of the IMF's quota system had increased its war chest, she said: "This trend should continue.Christine Lagarde has a second term at the helm of IMF sewn up just days after nominations opened, despite facing possible trial in France.She kept the IMF involved in a series of financial rescues for euro zone countries, notably Greece, despite misgivings in less developed states in Asia and Latin America that had been subject to harsher IMF medicine in previous decades.In a gesture of cross-Channel entente, British finance minister George Osborne formally nominated the center-right Lagarde, 60, within minutes of the appointment process opening.Mexican central bank governor Augustin Carstens carried that torch when he ran against Lagarde in 2011, but he has just been reappointed for six years and no such challenge is in sight now.Endorsements quickly followed from France, Germany and Italy, as well as unofficially from the United States, which holds a blocking minority of votes on the IMF's board.By working patiently in Washington in support of IMF reform, she has managed to overcome for now frustration on other continents at a carve-up in which the United States has always nominated the head of the World Bank, and Europe the head of the IMF. "Everyone has cause to be happy with Lagarde."Whether out of diplomatic courtesy or lack of concern, no government has so far questioned whether she will be able to serve out a second term without being distracted by her legal troubles in France
Post je objavljen 14.02.2022. u 04:08 sati.