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Brazil supports Lagarde's IMF re-election bid

Xinhua, January 28, 2016 Adjust font size:

Brazil said Wednesday it supports Christine Lagarde's bid to run for a second term as the chief of the International Monetary Fund (IMF).

In a brief statement released to the press, Finance Minister Nelson Barbosa said the country believes that Lagarde's win in the re-election important to improving the global economic scenario and "essential to deal with the current global economic challenges."

The minister said that Brazil is "confident" in Lagarde's capacity to tackle the global and multilateral issues, "especially when the IMF's quota reform is taking effect, ensuring more representativeness of the emerging countries."

Lagarde, the first woman to chair the IMF, announced her decision to run for the re-election on Jan. 22. She has headed the IMF since July 2011.

Although she was involved in a court case in her native country of France, where she was accused of negligence in managing public funds, Lagarde has been reported confident in seeing a positive election outcome. Endi