French woman Christine Lagarde now IMF chief (photos, video)
NEW YORK, NY -- San Francisco residents are hearing in top news today that the new chief of the IMF is French woman Christine Lagarde.
According to San Francisco' local news station, KTVU, Christine Lagarde, the finance minister of France, was the person voted to the post of managing director of the International Monetary Fund (IMF) on Tuesday.
The new managing directorship was given to Lagarde because Dominique Strauss-Kahn resigned last month over a sex scandal involving a maid at the New York Sofitel hotel. It seems Strauss-Kahn had a history with being a playboy." (See article here: IMF Dominique Strauss-Kahn hired hookers, was 'rough and angry')
The lawyers for Strauss-Kahn said they would find 'dirt' on the maid to discredit her. (See that article here: That 'Dirt' on Strauss-Kahn accuser finally out (photos, video))
The new managing director, Christine Lagarde, 55, is the first woman to ever run the IMF.
The IMF has recently been helping the European Union and the European Central Bank with financial aid for Greece and other European economies
According to KTVU Channel 2 News, the IMF chose Lagarde after a consensus vote.
Lagarde went on to thank the IMF and its members. "I would like to thank the Fund's global membership warmly for the broad-based support I have received," she said. "I would also like to express my respect and esteem for my colleague and friend, Agustín Carstens."
Agustin Carstens was the one other contender in the running for the position of IMF managing director. Carstens is the Mexican Central Bank chief . He was backed by Australia, Canada and Mexico.
Lagarde will start a five-year term as the managing director from next month.
KTVU reports that Lagarde was supported by the UK Germany and several European countries, along with some Asian and African nations.
The IMF was set up back in 1947 to help promote the international monetary system when World War II finished. The IMF offers monetary cooperation and exchange rate stability and it helps facilitate international trade between countries in an effort to promote economic growth worldwide.
The IMF has been led temporarily by John Lipsky since May 19th. He is a veteran deputy managing director.
The former IMF chief, Strauss Kahn resigned. (See that article here: IMF chief resigns (photos, video)
Strauss-Kahn is currently on home arrest in a Manhattan apartment, on $6-million bail according to KTVU.
See these articles on this topic:
IMF's Strauss-Kahn will say encounter with maid was consensual (photo, video)
IMF Dominique Strauss-Kahn hired hookers, was 'rough and angry'
IMF head under suicide watch, maid lived in AIDS...
IMF chief remains jailed for sexual assault
IMF head to plead not guilty in sex assault case
IMF chief resigns (photos, video)
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Source: KTVU Channel 2 News
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