The Latest: IMF chief Lagarde will seek 2nd term

The latest developments from the World Economic Forum in Davos, Switzerland, where top executives and world leaders are meeting this week. All times local.


10:00 a.m.

Christine Lagarde, the French woman who is head of the International Monetary Fund, says she wants another term.

Lagarde told France-2 television on Friday that she wanted to continue at the helm of the organization, which has coordinated bailouts for countries and monitors economic reforms globally. Britain and Germany gave key backing Thursday, and Lagarde said she had also received support from China, South Korea and Mexico.

Developing countries have increasingly opposed an informal arrangement by which a European heads the IMF. The sister organization, the World Bank, has until recently typically been led by an American.

Lagarde spoke from Davos, Switzerland on the sidelines of the World Economic Forum of business leaders and public figures, amid turmoil in global markets.