Wednesday, June 29, 2011

IMF, Christine Lagarde elected as the new Director General

The French Finance Minister Christine Lagarde is the new Director General of the International Monetary Fund. The IMF's Executive Committee has chosen as the successor to Dominique Strauss-Kahn, who resigned last May 18 after being arrested in New York for an alleged sexual assault against the maid in a hotel.

Lagarde, 55, will be in office for five years, starting next July 5, 2011. The news comes a note from the Board of the Fund, stressing that Lagarde was the first woman to sit on the highest chair of the IMF since the birth of the institution in 1944. The choice of Ms. Lagarde was made by 24 members of the Executive Committee on behalf of the 187 IMF member countries.

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