Christine Lagarde is the new head of the International Monetary Fund (IMF). Lagarde replaces Dominique Strauss-Kahn. After being nominated for the role the US quickly endorsed her role, all but ensuring the role after more than half of the institutions board voted for her. LaGarde is the first female President to run the bank.
Tim Geithner was quick to endorse Christine’s “exception talent and broad experience” while most nations also endorsed her for the role from the start including several African nations, Egypt and Indonesia.
While she may be taking office her role breaks an informal arrangement that the IFM be headed by a European while the World Bank be run by an American.