IMF boss Lagarde to run for second term

The managing director of International Monetary Fund - Christine Lagarde - whose official term in office ends on 5 July, has confirmed she will put herself forward for a second term in office.

The incumbent MD already has the backing of China, France, Germany, UK and South Korea, and there appear to be no obvious challengers for the post. Nomination proceedings for the appointment commenced on Wednesday.

Last month, Lagarde was ordered to stand trial in France for alleged "negligence" over a compensation payment to a local businessman Bernard Tapie. She approved the payment in 2008 when she was French finance minister.

The IMF boss has said she would appeal against the move.