Lagarde Named New Head Of IMF

By Vanessa Remmers

Christine Lagarde secured the position as the managing director of the International Monetary Fund Tuesday, becoming the first woman to head the global financial agency.

Lagarde’s appointment was a safe bet after the United States, China and most European countries pledged their support for the French Finance Minister, a leader in the bailout of Greece during the European debt crisis.

“Minister Lagarde’s exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy,” United States Treasury Secretary Timothy Geithner said, according to the New York Times. “We are encouraged by the broad support she has secured among the Fund’s membership, including from the emerging economies.”

Lagarde replaces disgraced former IMF Chief Dominique Strauss-Kahun following his arrest on sexual assault charges. With Greece experiencing riots against austerity measures backed by the IMF, Lagarde will shoulder what some consider a delicate reputation for the global financial agency.