ISSN 2330-717X

France’s Lagarde Chosen To Head IMF


French Finance Minister Christine Lagarde has been chosen to head the International Monetary Fund.

The 24-member IMF Executive board made the decision Tuesday in Washington.

The top IMF post is vacant because former Managing Director Dominique Strauss-Kahn resigned after being arrested in New York on charges of sexual assault. He denies the allegations.

The IMF gives loans and technical advice to countries with economic problems, and has been playing a role in bailing out Greece.

Under a decades-old informal agreement, the head of the IMF has always been a European, while the top post at the World Bank has gone to an American. Leaders of some emerging major economies have called this tradition “outdated” as Brazil, Russia, India, China and other nations play a large and growing role in the global economy.

Click here to have Eurasia Review's newsletter delivered via RSS, as an email newsletter, via mobile or on your personal news page.


The VOA is the Voice of America

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.