Wednesday, 29 June 2011

· Christine Lagarde to Head IMF

· Christine Lagarde’s statement

· Agustín Carstens’ statement

· IMFC Chair congratulates Lagarde

Christine Lagarde to Head IMF

The Executive Board of the IMF issued a statement today announcing the selection of 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. Ms. Lagarde is the first woman named to the top IMF post since the institution’s inception in 1944. The selection of Ms. Lagarde by the 24-member Executive Board representing 187 member countries was made by consensus , and concludes the selection process initiated by the Executive Board on May 20, 2011.


Christine Lagarde’s statement

Thanking the IMF Executive Board and praising Agustín Carstens from Mexico, Christine Lagarde issued the following statement in Paris. “The IMF has served its 187 member countries well during the global economic and financial crisis, transforming itself in many positive ways,” she said. “The IMF must be relevant, responsive, effective, and legitimate, to achieve stronger and sustainable growth, macroeconomic stability, and a better future for all”.


Agustín Carstens’ statement

Agustín Carstens, Mexico’s Central Bank Governor and contender for the post, issued the following statement: “I am sure that Ms. Lagarde will be a very capable leader of the institution,” he said, “I hope that under Ms. Lagarde’s direction, the IMF will make meaningful progress in strengthening the governance of the institution, so as to assure its legitimacy, cohesiveness, and ultimately, its effectiveness.”


IMFC Chair congratulates Lagarde

Tharman Shanmugaratnam, Chairman of the International Monetary and Financial Committee (IMFC) issued a statement on behalf of the IMFC congratulating Ms. Lagarde. The IMFC is responsible for advising, and reporting to the Board of Governors as it manages and shapes the international monetary and financial system. The IMFC has 24 members who are central bank governors, ministers, or others of comparable rank and who are drawn from the governors of the Fund’s 187 member countries.

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