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New IMF executive director Christine Lagarde (L) chats with Francois Baroin (R), during the questions and answers session in the National Assembly, Paris, France, 29 June 2011. Photo by EPA/BGNES
Tuesday is the first day of former French Finance Minister Christine Lagarde's new career as the Managing Director of the International Monetary Fund.
Lagarde succeeds Dominique Strauss-Kahn, who was accused of sexual abuse in May, is the first woman named to the top IMF post since the institution's inception in 1944. She was appointed as her new position on June 28.
The Managing Director is the chief of the IMF's operating staff and Chairman of the Executive Board. The chief executive is assisted by three Deputy Managing Directors in the operation of the Fund, which serves 187 member countries through about 2,700 staff from more than 140 countries.
Lagarde was regarded to be very likely to succeed Dominique Strauss-Kahn at the helm of the International Monetary Fund as early as more than a month ago.
Lagarde's appointment keeps the convention that Europe gets to head the IMF, while an American gets the top job at the World Bank.
"As I have had the opportunity to say to the IMF board during the selection process, the IMF must be relevant, responsive, effective and legitimate, to achieve stronger and sustainable growth, macroeconomic stability and a better future for all," she said in a statement after her appointment, as cited by BBC.
The head of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the ongoing war in the Middle East is expected to push inflation higher while simultaneously slowing global economic growth
A Bulgarian citizen has been elected mayor of the French town of Saint-Maximin de la Baume, located in the Provence region, after winning a closely contested runoff vote.
The widening conflict linked to the war with Iran has claimed the life of a French soldier in Iraq, while drone attacks and missile launches continued to shake the Middle East on Friday
The International Monetary Fund (IMF) has urged governments to prepare for potentially unprecedented economic challenges as the conflict in the Middle East escalates.
The political party Democrats for a Strong Bulgaria (DSB) have proposed that Bulgaria consider joining the initiative of French President Emmanuel Macron to extend France’s nuclear deterrence guarantees to other European countries.
French prosecutors have carried out searches at the Paris offices of Elon Musk’s social media platform X as part of an investigation into suspected cybercrime and alleged abuses linked to the platform’s operation
The Kremlin has announced that Russian President Vladimir Putin has ordered an “Easter ceasefire” in the war in Ukraine, declaring a temporary halt in hostilities lasting around 36 hours
A group of Members of the European Parliament has raised concerns over the potential leakage of confidential EU information to Russia, urging stronger safeguards within the European Parliament
Moldovan President Maia Sandu has formally enacted legislation withdrawing the country from the Commonwealth of Independent States (CIS), marking a decisive step in Chisinau’s gradual disengagement from Russian-led structures
The European Public Prosecutor’s Office (EPPO) has carried out a series of coordinated investigative actions across several countries, including Bulgaria and Romania, as part of a probe into suspected large-scale fraud involving EU funds
A fragile ceasefire between the United States and Iran has coincided with escalating tensions over the Strait of Hormuz, where Iran has moved to tighten control over one of the world’s most critical maritime routes
US President Donald Trump has sharply criticized NATO allies over what he described as their unwillingness to support Washington during the war with Iran, following a two-hour meeting with Secretary-General Mark Rutte at the White House
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