Christine Lagarde Elected New IMF Chief

Paris, Jun 29. -French Finance Minister Christine Lagarde is the first woman ever to lead the International Monetary Fund since its founding as part of the United Nations in 1945.

Lagarde, a 55-year-old economist, was elected unanimously by the IMF Executive Council on Tuesday to serve a five-year mandate.

She won the race against Mexican Central Bank director Agustin Cartens, with votes from Europe, the United States, Russia, and China, which together form a majority vote in the IMF Executive Council.

Lagarde replaces Dominique Strauss-Khan, who resigned in May after being charged with sexually assaulting a New York hotel maid.

Right after the announcement of her election, Lagarde called on the Greek opposition to back the IMF-proposed austerity plan in that nation.

"The future and security of the country depend on it," she said. (Prensa Latina)