Singapore is supporting the nomination of International Monetary Fund managing director Christine Lagarde for a second term.

The chairman of the Monetary Authority of Singapore, Deputy Prime Minister Tharman Shanmugaratnam, said that she has led the IMF through challenging times.

"She has done so with exceptional capability, and has won the trust of both its advanced and developing members. Singapore supports Ms Lagarde serving a second term, and I am confident she will continue to lead the IMF with conviction and in an inclusive way."

The United Kingdom's Chancellor of the Exchequer, Mr George Osborne, has said that he is "delighted to nominate" her for a new term.