IMF chief to reappoint David Lipton as principal deputy

[WASHINGTON] International Monetary Fund Managing Director Christine Lagarde on Monday announced her intention to reappoint David Lipton as the Fund's first deputy managing director to a new five-year term starting Sept 1.

The decision is subject to approval by the IMF's executive board. Lipton, an American, was an economic adviser to President Barack Obama before joining the IMF in 2011, shortly after Lagarde took over as managing director.

"David has demonstrated over the last five years his excellent policy-making acumen, a drive toward innovation, a highly developed set of communication and negotiating skills, and invaluable appreciation of IMF policies and procedures," Lagarde said in a statement.

Lipton also has worked as Citigroup Inc's head of global country risk management and in the US Treasury Department during the Clinton administration.

REUTERS