French Finance Minister Christine Lagarde appointed as the Chief of International Monetary Fund

International Current Affairs 2011. French finance minister Christine Lagarde on 28 June 2011 was appointed as the chief of International Monetary Fund

Jun 29, 2011 14:14 IST
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French finance minister Christine Lagarde on 28 June 2011 was appointed as the chief of International Monetary Fund. Her appointment at the top job at the IMF, kept the international lender in the hands of a European at a time of growing concern over a possible Greek debt default. The executive board of IMF finalised her appointment after considering all relevant information on the candidacies. Lagarde's scored a victory over Mexico's Central Bank Governor Agustin Carstens.

Lagarde became the first woman to head the International Monetary Fund. Following her taking over as managing director on 5 July 2011, she will immediately be immersed in efforts by the IMF and European Union to head off a Greek default that could touch off an international crisis.
Lagarde succeeded Dominique Strauss-Kahn, who resigned from the IMF in May to defend himself against charges of sexual assault against a New York hotel maid.

Christine Madeleine Odette Lagarde was born on 1 January 1956 and is the current Minister of Economic Affairs, Finances and Industry of France. She was appointed to her current position by President Nicolas Sarkozy in June 2007. She has also served as France’s Minister of Agriculture and Fishing and Minister of Trade in the government of Dominique de Villepin.

Lagarde was the first woman ever to become minister of Economic Affairs of a G8 economy, and is the first woman to ever head the IMF. She is a notable antitrust and labour lawyer.

Lagarde first made history as the first female chair of the international law firm Baker & McKenzie. Lagarde joined Baker & McKenzie in 1981. She joined the executive committee in 1995 and was elected Chair in October 1999. Her personal interest in European affairs led her to open the European Law Centre, an office of Baker & McKenzie in Brussels exclusively dedicated to the practice of European Union law.

On 16 November 2009, The Financial Times ranked her the best minister of finance of the Eurozone. In 2009, Lagarde was ranked the 17th most powerful woman in the world by Forbes magazine. Lagarde became president of the global strategic committee in 2004.

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