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Wednesday, June 29, 2011

INTERNATIONAL MONETARY FUND: Christine Lagarde named first woman IMF head!

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Newly elected IMF president Christine Lagarde is pictured after taking part in the broadcast news of French TV station TF1, following the announcement of her election, outside Paris - AFP
Newly elected IMF president Christine Lagarde is pictured after taking part in the broadcast news of French TV station TF1, following the announcement of her election, outside Paris - AFP.

France's Christine Lagarde was named Tuesday as the first-ever female chief of the IMF, faced with an immediate crisis as violent Greek protests rocked the stability of the eurozone.
The French finance minister, respected for her leadership during the financial crises that have rocked Europe over the past three years, was chosen to replace countryman Dominique Strauss-Kahn, who resigned abruptly on May 18 after being arrested in New York for an alleged sexual assault.
"The results are in: I am honored & delighted that the board has entrusted me with the position of MD of the IMF!" Lagarde said via Twitter minutes after the announcement.
Despite grumblings from emerging economies over Europe's 65-year lock on the IMF's top job, the solid support of the United States and European nations made it virtually impossible for Mexican challenger Agustin Carstens.
Ultimately key emerging nations, including Brazil, China and Russia, also gave Lagarde their backing.


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