Lagarde to helm IMF -

Lagarde to helm IMF

French finance minister under pressure to stabilize Europe’s debt crisis


French Finance Minister Christine Lagarde was chosen to be the International Monetary Fund’s new managing director on Tuesday, making her the first woman to lead the global lending organization in its 66-year history, AP reports. Lagarde replaces Dominique Strauss-Khan, who resigned in May after being charged with the sexual assault of a New York City hotel housekeeper. As the head of the IMF, Lagarde will be under considerable pressure help resolve the European debt crisis, address the economic concerns of developing nations, and restore the public image of the IMF following Strauss-Khan’s arrest. Lagarde expressed a desire to meet with Strauss-Khan if granted permission by the U.S. government.  “I want to have a long talk with him, because a successor should talk with their predecessor,” she said. Lagarde’s appointment to the IMF’s top spot was backed by U.S. Treasury Secretary Timothy Geithner, and continued a tradition of European leaders running the organization.

Associated Press

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