Madame IMF, Cristine Lagarde is the new IMF Head
Elena Vnorovscaia / Chişinău / Moldova.ORG / -- France's Finance Minister Christine Lagarde, 55, has been named the first woman to head the International Monetary Fund (IMF). The International Monetary Fund's David Hawley has announced that French finance minister Christine Lagarde will be the organisation's new managing director.
She replaces Dominique Strauss-Kahn, who resigned last month after being arrested in New York on charges of sexual assault. The charges are still denied.
US Treasury Secretary Timothy Geithner said: "Minister Lagarde's exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy."
"The results are in: I am honored and delighted that the board has entrusted me with the position of MD of the IMF!" Ms. Lagarde said via Twitter right after the IMF announcement.
When Ms Lagarde begins her five-year term on 5 July, her immediate task will be to deal with the efforts of the IMF and European Union to resolve the Greek debt crisis and prevent contagion to other eurozone economies.
In a signal to IMF members who fear she will be overly-focused on Europe, Ms Lagarde said in a statement: "I will make it my overriding goal that our institution continues to serve its entire membership.
"As I have had the opportunity to say to the IMF board during the selection process, the IMF must be relevant, responsive, effective and legitimate, to achieve stronger and sustainable growth, macroeconomic stability and a better future for all."
Recall that before becoming a new IMF head she was, prior to moving into politics, champion swimmer, was an anti-trust and employment lawyer in the US, and her last function was a France's finance minister in June 2007. She was minister for foreign trade for two years.
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