Lagarde has no obvious challengers and has said she is open to serving another term.
The organization has further cut its growth forecast for Russia.
The approval is a win for Beijing's campaign for recognition as a global economic power.
A spate of Greek tragedy revivals that speak to the current crisis.
The Greek Finance Minister says there are "two or three very small details" remaining after all-night negotiations.
The International Monetary Fund, the European Central Bank and the European Commission troika has its first colony: Greece.
Greek MPs are currently preparing to vote on the austerity proposals
A #ThisIsACoup hashtag first used by a Barcelona physics teacher spread across social media after a deal on the Greek debt crisis was announced.
The government did not have sufficient funds to make the payment on Monday, sources said.
The protests laid bare the deep divide heading into a referendum that may decide the country's future in Europe's single currency.
Disgraced Former IMF Head Dominique Strauss-Kahn More Popular Than François Hollande with French Left
The former IMF boss is second in popularity only to prime minister Valls among potential left-wing presidential candidates according to a new poll.
Greece owes official lenders 242.8 billion euros ($271 billion).
The missed payment would bring Greece closer to a Euro exit if it prompted the European Central Bank to cut off emergency funding.
The country's leaders and international creditors have failed to reach a deal over economic reforms.
Excessive fiscal policy tightening within a euro straitjacket is not a good idea.
Analysts say that US has "backed itself into a corner" with criticisms of $100 billion institution.
Greek prime minister shakes up negotiating team and takes controversial finance minister, Yanis Varoufakis, out of the limelight.
Experts say that the last minute clamp down is too little too late.
Angela Merkel says Grexit must be prevented while Varoufakis writes that disagreements with creditors are "not unbridgeable".
The environment minister has revoked a license leaving gold stuck in a mine in northern Greece.
Possibility of exit from euro zone has pushed up Greek bond yields but has had little effect globally.
Finance minister pledges to "reform Greece deeply" as deadline for €450 million loan repayment to IMF approaches.