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

African States Push to Keep Boko Haram Offline

Central African telecoms ministers working with Nigeria to block all videos posted by Boko Haram in effort to blunt Nigerian militant group's propaganda More

Falling Oil Prices, Internet-Savvy Youth Pose Challenge for Gulf Monarchies

Across the Gulf, younger generations are putting a strain on traditional politics More

Philippines Call Center Workers Face Challenges

Country has world’s largest business process outsourcing, or BPO, industry, employing some one-million workers 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.
US Supreme Court Hears Hijab Discrimination Casei
X
Katherine Gypson
February 25, 2015 11:30 PM
The U.S. Supreme Court has heard opening arguments in a workplace religious discrimination case that examines whether a clothing store can refuse to hire a young woman for wearing the headscarf she says is a symbol of her Muslim faith. Katherine Gypson reports from the Supreme Court.
Video

Video US Supreme Court Hears Hijab Discrimination Case

The U.S. Supreme Court has heard opening arguments in a workplace religious discrimination case that examines whether a clothing store can refuse to hire a young woman for wearing the headscarf she says is a symbol of her Muslim faith. Katherine Gypson reports from the Supreme Court.
Video

Video Falling Gas Prices Hurt Nascent Illinois Hydraulic Fracturing Industry

Falling oil prices are helping consumers purchase cheaper petroleum at the pump. But that’s made hydraulic fracturing or “fracking” less economically viable for the companies in the United States invested in the process. VOA’s Kane Farabaugh reports on one Midwestern town that was hoping to change its fortunes by cashing in on the next big U.S. oil boom.
Video

Video Fighting in Sudan's South Kordofan Fuels Mass Displacement

Heavy fighting in Sudan's South Kordofan state is causing hundreds of thousands to flee into uncertain conditions. Local aid organizations estimate as many as 400,000 civilians have been internally displaced since the conflict began more than three years ago, while another 250,000 have fled across the border to refugee camps in South Sudan. VOA's Adam Bailes reports.
Video

Video Lao Dam Project Runs Into Opposition

A Lao dam project on a section of the Mekong River is drawing opposition from local fishermen, international environmental groups and neighboring countries. VOA's Say Mony visited the region to investigate the concerns. Colin Lovett narrates.
Video

Video A Filmmaker Discovers Her Biracial Identity in "Little White Lie

Lacey Schwartz grew up in an upper middle-class Jewish family, in a town in upstate New York where almost everyone she knew was white. She assumed that she was, as well. Her recent documentary, Little White Lie, tells the story of how she uncovered the secret of her true racial background. VOA’s Carolyn Weaver has more on the film.
Video

Video Deep Under Antarctic Ice Sheet, Life!

With the end of summer in the Southern hemisphere, the Antarctic research season is over. Scientists from Northern Illinois University are back in their laboratory after a 3-month expedition on the Ross Ice Shelf, the world’s largest floating ice sheet. As VOA’s Rosanne Skirble reports, they hope to find clues to explain the dynamics of the rapidly melting ice and its impact on sea level rise.
Video

Video US-Cuba Normalization Talks Resume Friday

Negotiations aimed at normalizing diplomatic relations between the U.S. and Cuba resume Friday. On the table: lifting a half-century trade embargo and easing banking and travel restrictions. There's opposition in Congress, but some analysts say there may be sufficient political and economic incentives in both nations for a potential breakthrough this year. VOA's Mil Arcega reports.
Video

Video Pakistan's Deadline For SIM Registration Has Cellphone Users Scrambling

Pakistani cell phone users have until midnight Thursday to register their SIM cards, or their service will be cut off. While some privacy experts worry about government intrusion, many Pakistanis are just worried about keeping their phone lines open. VOA Deewa reporter Arshad Muhmand has more from Peshawar.
Video

Video Myanmar Warns Factory Workers to End Strikes

Outside Myanmar's main city Yangon, thousands of workers walked off their jobs earlier this month demanding a doubling of their wages, pay raises after a year and input from labor unions on industrial regulations. Since Friday, the standoff has grown more tense as police moved in to disrupt the sit-ins, resulting in clashes that injured people from both sides. VOA correspondent Steve Herman visited industrial zones which have become a focus of Myanmar's fledgling workers rights movement.
Video

Video Oscar Winners Do More Than Thank the Academy

The Academy Awards presentation is Hollywood’s night to reward the best movies from the previous year. It’s typically a lot of glitter, a lot of thank you’s, a lot of speeches. But many of this year’s speeches carried messages beyond the thank you's. VOA’s Carolyn Presutti takes a look.

All About America

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

World Currencies

EUR
USD
0.8896
JPY
USD
119.26
GBP
USD
0.6475
CAD
USD
1.2451
INR
USD
61.816

Rates may not be current.