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guardian
06-29-2011, 04:19 PM
Lagarde Wins Presidency Monetary Fund



Posted 29/06/2011 06:59 AM


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Washington won the French Finance Minister Christine Lagarde chaired by the International Monetary Fund, beating her rival, Governor of the Central Bank of Mexico's Agustin Carstens. And strengthen the position of Lagarde after the announcement of China, Brazil and Russia support. It also came to support the official U.S. candidate for the French is almost resolved.

The Fund's Board of Directors declared victory Lagarde after a special meeting at its headquarters in Washington to determine who will succeed Dominique Strauss-Kahn after his resignation from the presidency of the fund last month after being charged with the issue of nationality.

Thus Lagarde first woman president of the Fund, despite the opposition of many emerging economies for takeover of Europe in this position since the establishment of the Fund.

He said U.S. Treasury Secretary Timothy Geithner that Lagarde has talent and experience to enable replay of the distinctive management of the institution, especially in light of international economic conditions crucial stage in the world.

The Carstens has happened before announcing the results on the support of four members, they are Mexican and fellow delegates of Argentina, Australia and Canada.

Recently criticized many of the developing countries of the European Union's insistence that Europe remains the President of IFAD, a tradition dating back to the founding of the Fund after the Second World War.

It is believed that there is an unwritten agreement between the U.S. and Europe since 1945, provides that holds the presidency of the European character of international exchange, to take the personal American head the World Bank.


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