News / Economy

Lagarde Says Global Economy on Rebound, Pledges More Diversity at IMF

IMF Managing Director Christine Lagarde holds a news briefing at the International Monetary Fund headquarters in Washington July 6, 2011
IMF Managing Director Christine Lagarde holds a news briefing at the International Monetary Fund headquarters in Washington July 6, 2011

Multimedia

Christine Lagarde gave her first news conference Wednesday, one day after starting her new job as managing director of the International Monetary Fund.  The former French finance minister has a busy agenda as she takes the reins of an institution struggling to contain the European debt crisis and the sudden departure of its former chief, Dominique Strauss- Kahn.


Two years after the global downturn, Christine Lagarde says the world's economy is on the mend.  But in her first news conference since becoming the new head of the IMF, Lagarde acknowledged the recovery has been uneven - with emerging markets growing faster than advanced economies.

"We have these tectonic plates that are moving at the moment and that needs to be reflected in the composition, governance and employment of the fund and I will continue that," she said.

The former finance minister faces a complex agenda as she takes over the global lending institution - from pressuring fellow Europeans to make the tough decisions needed to bolster the euro - to convincing the fund's 187 member countries that the IMF will be a more diverse and inclusive institution.

"It's not just about gender, color, religion, sexual preferences, but it's also about academic background.  And I think that we need to draw on the resources and the intellect developed in many corners of the world, because that will make us better and richer," she said.

On whether the resignation of former IMF chief Dominque Strauss-Kahn on charges of sexual assault had damaged the fund's credibility, Lagarde insisted the allegations had no bearing on the IMF's accomplishments.

And she pledged to push forward with reforms started by her predecessor. "It (the IMF) has reasons to be proud of its achievements under the previous managing director's helm, and I'm the first one to acknowledge the quality of the reforms that have taken place.  And as to the rest, we shall leave it to the legal course that it should take and I'm not going to comment further on that," she said.

Lagarde, who becomes the first woman to lead the fund, also revealed a softer side.  Recalling her early days as a student in Washington, she offered this advice to students. "For all the young girls that are in school at the moment, I'd like to say that they should each consider that everything's possible," she said.

While short on specifics on how the IMF plans to deal with the most pressing global issues, Lagarde confirmed the fund's board is set to meet Friday to consider the disbursement of funds for debt-riddled Greece.

You May Like

Karzai's Legacy: Missed Opportunities?

Afghanistan's president leaves behind a much different nation than the one he inherited, yet his legacy from 13 years in power is getting mixed reviews More

Secret Service Chief Under Fire for White House Security Breach

Julia Pierson faces tough questions from lawmakers after recent intrusion at White House, says: 'It is clear that our security plan was not executed properly' More

Frustrated, Liberian Students Want Ebola Fight Role

Thousands have volunteered to go to counties, rural villages to talk to people in their language about deadly virus More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Malaysia Struggles to Stop People Joining Jihadi
X
Mahi Ramakrishnan
September 30, 2014 2:16 PM
Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Malaysia Struggles to Stop People Joining Jihad

Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Could US Have Done More to Stop Rise of Islamic State?

President Obama says airstrikes against Islamic State militants in Syria will likely continue for some time because, in his words, "there is a cancer that has grown for too long." So what if President Obama had acted sooner in Syria to arm more-moderate opponents of both the Islamic State and the Syrian government? VOA State Department Correspondent Scott Stearns reports from the United Nations.
Video

Video Treasure Hunters Seek 'Hidden Treasure' in Central Kenya

Could a cave in a small village in central Kenya be the site of buried treasure? A rumor of riches, left behind by colonialists, has some residents dreaming of wealth, while others see it as a dangerous hoax. VOA's Gabe Joselow has the story.
Video

Video Iran's Rouhani Skeptical on Syria Strikes

Iranian President Hassan Rouhani expressed skepticism Friday that U.S.-led airstrikes in Iraq and Syria could crush Islamic State militants. From New York, VOA’s Margaret Besheer reports the president was also hopeful that questions about Iran’s nuclear program could be resolved soon.
Video

Video US House Speaker: Congress Should Debate Authorization Against IS

As wave after wave of U.S. airstrikes target Islamic State militants, the speaker of the Republican-controlled House of Representatives says he would be willing to call Congress back into session to debate a formal, broad authorization for the use of military force. VOA’s Michael Bowman reports from Washington, where legislators left town 10 days ago for a seven-week recess.
Video

Video Ebola Patients Find No Treatment at Sierra Leone Holding Center

At a holding facility in Makeni, central Sierra Leone, dozens of sick people sit on the floor in an empty university building. They wait in filthy conditions. It's a 16-hour drive by ambulance to Kailahun Ebola treatment center. Adam Bailes was there and reports on what he says are some of the worst situations he has seen since the beginning of this Ebola outbreak. And he says it appears case numbers may already be far worse than authorities acknowledge.
Video

Video Identifying Bodies Found in Texas Border Region

Thousands of immigrants have died after crossing the border from Mexico into remote areas of the southwestern United States in recent years. Local officials in south Texas alone have found hundreds of unidentified bodies and buried them in mass graves in local cemeteries. Now an anthropologist and her students at Baylor University have been exhuming bodies and looking for clues to identify them. VOA’s Greg Flakus has more from Waco, Texas.
Video

Video Ebola Robs Liberians of Chance to Say Good-Bye to Loved Ones

In Liberia, where Ebola has killed more than 1,500 people, authorities have worked hard to convince people to allow specialized burial teams to take away dead bodies. But these safety measures, while necessary, make it hard for people to say good bye to their loved ones. VOA's Anne Look reports on the tragedy from Liberia.
Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.

AppleAndroid

World Currencies

EUR
USD
0.7866
JPY
USD
109.25
GBP
USD
0.6139
CAD
USD
1.1120
INR
USD
61.428

Rates may not be current.