The 60-year-old former French cabinet minister was the only candidate for the job | Stephen Jaffe/IMF via Getty Christine Lagarde wins second term as IMF chief

Christine Lagarde will serve a second term as head of the International Monetary Fund, its executive board said Friday.

The 60-year-old former French cabinet minister was the only candidate for the job.

The fund’s first female managing director last month won the backing of Germany, the U.K. and France, where she is facing a legal battle over her decision to order a €400 million payment to a businessman in 2007, while she was French finance minister.

An IMF statement said that Lagarde "played a critical role in revitalizing the Fund’s relations with its global membership, including its emerging market and developing members" in her first term .

Lagarde was first appointed in 2011. Her new term will begin on July 5.

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