Lagarde confirmed as first female boss of IMF
FRENCH finance minister Christine Lagarde was confirmed as the new head of the International Monetary Fund (IMF) last night, the first woman to be appointed to the role.
Lagarde’s success was effectively sealed earlier in the day when US Treasury secretary Timothy Geithner added the American government’s support to her candidacy.
Geithner praised Lagarde’s “exceptional talent and broad experience”, opening the way for the official announcement and a chorus of endorsements from global politicians.
The appointment is “good news for the global economy”, echoed chancellor George Osborne.
French president Nicolas Sarkozy called the news “a victory for France”.
Lagarde’s first move last night was to urge the Greek opposition party to support the government in pushing through a new austerity plan.
The IMF pushed ahead with her appointment despite an unresolved legal case in France looking at Lagarde’s role in a 2008 arbitration payout to a French businessman.