| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : Global Economy Last Updated: Jun 29, 2011 - 2:10 PM

Christine Lagarde named next chief of International Monetary Fund; First woman for top IMF post in 66 years
By Finfacts Team
Jun 29, 2011 - 4:45 AM

Email this article
 Printer friendly page
French Finance Minister Christine Lagarde. June 23, 2011, at the IMF headquarters in Washington, DC. IMF Photograph/Stephen Jaff

Christine Lagarde, the French finance minister, was appointed on Tuesday as the next chief of the International Monetary Fund. She is the first woman named to the top IMF post since the institution’s founding 66 years ago.

The first female finance minister of a large country, won recognition for her handling of the fallout from the financial crisis.

She is not an economist and in announcing her candidacy last month, she said she'd bring "all my expertise as a lawyer, a minister, a manager and a woman" to the job.

Christine Lagarde is the first woman named to the top IMF post since the institution’s inception in 1944.

The new managing director is assisted by three deputy managing directors in the operation of the Fund, which serves 187 member countries through about 2,700 staff from more than 140 countries.

Lagarde, 55, a former champion swimmer. has been the French finance minister since June 2007. Prior to that, she served as France’s minister for foreign trade for two years. Lagarde also has had an extensive career as an anti-trust and labour lawyer, serving as a partner with the American law firm of Baker & McKenzie, where the partnership elected her as chairman in October 1999. She held the top post at the firm until June 2005 when she was named to her initial ministerial post in France.

Christine Lagarde has degrees from Institute of Political Studies (IEP) and from the Law School of Paris X University, where she also lectured prior to joining Baker & McKenzie in 1981.

Christine Lagarde issued the following statement on Tuesday: "The executive board of the International Monetary Fund has just selected me to succeed Dominique Strauss-Kahn as managing director for a five-year term, starting on July 5. I am deeply honoured by the trust placed in me by the executive board. I would like to thank the Fund’s global membership warmly for the broad-based support I have received. I would also like to express my respect and esteem for my colleague and friend, Agustín Carstens (the governor of the Bank of Mexico who was also seeking the position).

“The IMF has served its 187 member countries well during the global economic and financial crisis, transforming itself in many positive ways. I will make it my overriding goal that our institution continues to serve its entire membership with the same focus and the same spirit. As I have had the opportunity to say to the IMF board during the selection process, the IMF must be relevant, responsive, effective, and legitimate, to achieve stronger and sustainable growth, macroeconomic stability, and a better future for all.”

Eduardo Leite, chairman of Baker & McKenzie's executive committee, paid tribute to Madame. Lagarde: "After joining Baker & McKenzie in 1981, Christine Lagarde demonstrated the essential qualities of an exceptional leader, including intellect, discipline, diplomacy, humanity and more. She had a global perspective and was at home in every culture and country. She was a good listener and consensus-builder, yet decisive.

She was warm, friendly and outgoing, consistently showing grace and humanity. These positive qualities and many others helped Christine to earn the trust, respect and admiration of our clients, lawyers and professional staff around the world. As the first female chair of a global law firm and an effective, inspiring leader, Christine took Baker & McKenzie to new heights, leaving a lasting impression on our Firm and on the legal profession."

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

Global Economy
Latest Headlines
Strong Swiss franc gloom deepens for exporters
Global investors shift focus to China; EM outflows surge to $1tn in 13 months
Global oil glut will continue into 2016
Stable growth momentum in OECD area but slowing expected in China
Prices for major food commodities in July lowest since September 2009
Global manufacturing in July weakest level in two years
US, China and UK lead top 25 target countries for foreign direct investment
Budget surpluses rare in developed countries from 1980s; Italy, France, Greece had none in 60 and 40 years
Singapore, London and Shanghai top cities for new FDI projects in 2014; Dublin in 11th place
Exchange rates shuffle as Dublin ranked 49th most expensive city; Paris at 46; Berlin at 105
Western consumer groups under pressure in China and India
Developing countries facing “structural slowdown” likely to last for years
OECD BEPS Tax Project: Amazon books UK sales in UK; Australia proposes up to 100% in penalties
Emerging Markets Index falls to 12-month low in May as manufacturing contracts
US and world economies slowing in 2015 — OECD
Global manufacturing production rose slightly in May; Trade flows weak
GDP growth in OECD area slowed to 0.3% in the first quarter of 2015
Only one quarter of workers worldwide have stable employment contracts
Automatic Exchange of Tax Information: OECD says countries won't be able to game system
Gates Foundation loses in Swiss family's shares coup
Minimum wage levels in OECD countries
Brent oil benchmark over $68 a barrel - up almost 50% in 2015
Global growth slows and manufacturing dips to 21-month low
Family-controlled firms dominate European business
Top 10 of world’s 250 largest consumer products companies account for 30% of sales
Nine of world's 20 fastest growing economies in Africa
Globalisation maybe stalling as trade growth remains weak
Global growth prospects uneven across major economies says IMF
Emerging markets growth lowest since 2009; Global growth at 30-year average
China's economic rebalancing hitting Latin American economies
New York, London, HK & Singapore top global financial centres index; Dublin recovers
Global growth in modest expansion from low oil prices/ monetary easing says OECD
Composite leading indicators point to positive change in growth momentum in the Eurozone
Global labour market trends portend paradise for some but uncertainty for many workers
Vienna remains top of World Quality of Living Rankings in 2015; Dublin at 34
Zurich and Geneva overtake Singapore to become world's most expensive cities
HSBC Switzerland and Falciani: How it happened
Global economic power to continue shift from advanced economies
Global food price index falls in January; Cereal output set for record
Global debt has risen $57tn or 17% of world GDP since 2007