French Finance Minister Christine Lagarde create a history when she was today elected as the first woman head of the International Monetary Fund or IMF. Christine Lagarde is succeeding Dominique Strauss Kahn, who was forced to resigned last month after being arrested on rape charges in New York.
An official IMF announcement said “The Executive Board of the International Monetary Fund (IMF) today selected Christine Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term starting on July 5, 2011.”
India along with USA supports Lagarde and ensure her victory. India’s representative to the IMF board, Arvind Virmani said, “India looks forward to governance and quota reforms of the Fund to reflect global economic realities.”
IMF founded in 1944 and Lagarde, 55, is the first woman named to the top IMF post since its inauguration.
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