International Monetary Fund new female leader

Posted By on June 29, 2011

French finance minister Christine Lagarde has been chosen as the first female leader of the International Monetary Fund.

Her selection was assured early yesterday when she was endorsed by the U.S. shortly before being elected by the IMF’s 24-member board. She had also won support from Europe, China and Russia.

Miss Lagarde, 55, takes over as IMF managing director from Dominique Strauss-Kahn, who is under house arrest in the U.S. on sex charges after an alleged assault against a hotel maid.

‘I am deeply honoured by the trust placed in me,’ said Miss Lagarde, whose five-year term begins on July 5.

Chancellor George Osborne said Miss Lagarde’s appointment was ‘good news for the global economy and for Britain’.

While not a trained economist, she has made her mark as the first woman finance minister of a major world economy by surrounding herself with strong advisers and by using her impeccable English and media savvy to get her message out.

A former champion swimmer, her background is in law and she worked in the U.S. for two decades. She has long championed the free market, which has not often made her popular in France, where she was dubbed the ‘Minister of the Rich’. […read more]