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

Philippines, Muslim Rebels Try to Salvage Peace Pact

Peace process faces major setback after botched military operation to find terrorists results in bloody gunbattle between government forces, Moro Islamic Liberation Front fighters More

Republicans Expect Long, Expensive Presidential Battle

Political strategist says eventual winner will be one who can put together strongest coalition of various conservative groups that make up Republican Party More

Video New Wheelchair Is Easier to Use, Increases Mobility

Engineers have come up with a lever-operated design that makes use of easily accessible bicycle technology 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.
Liberia's Almost Last Ebola Patient Grateful but Still Grievingi
X
Benno Muchler
March 26, 2015 3:41 PM
Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Liberia's Almost Last Ebola Patient Grateful but Still Grieving

Beatrice Yardolo was to make history as Liberia’s last Ebola patient. Liberians recently started counting down 42 days, the period that has to go by without a single new infection until the World Health Organization can declare a country Ebola-free. That countdown stopped on March 20 when there was another new case of Ebola, making Yardolo’s story a reminder that Ebola is far from over. Benno Muchler reports from Monrovia.
Video

Video Cambodian Land Grabs Threaten Traditional Communities

Indigenous communities in Cambodia's Ratanakiri province say the government’s economic land concession policy is taking away their land and traditional way of life, making many fear that their identity will soon be lost. Local authorities, though, have denied this is the case. VOA's Say Mony went to investigate and filed this report, narrated by Colin Lovett.
Video

Video US, South Korea Conduct Joint Military Exercises

The Eighth U.S. Army Division and the Eighth Republic of Korea Mechanized Infantry Division put on a well orchestrated show of force for the media this week during their joint military training exercises in South Korea. VOA’s Seoul correspondent Brian Padden was there and reports the soldiers were well disciplined both in conducting a complex live fire exercise and in staying on message with the press.
Video

Video Space Program Status Disappoints 'Last Man on the Moon'

One of the films that drew big crowds last week at the annual South by Southwest festival in Austin, Texas, tells the story of the last human being to stand on the moon, U.S. astronaut Eugene Cernan. It has been 42 years since Cernan returned from the moon and he laments that no one else has gone there since. VOA’s Greg Flakus reports.
Video

Video Young Filmmakers Shine Spotlight on Giving Back

A group of student filmmakers from across the United States joined President Barack Obama at the White House this month for the second annual White House Student Film Festival. Fifteen short films were officially selected from more than 1,500 entries by students aged 6 through 18. The filmmakers and their families then joined the president and a group of celebrities for a screening of their films. VOA’s Julie Taboh reports.
Video

Video VOA Exclusive: Interview with Afghan President Ashraf Ghani

Afghan President Ashraf Ghani, during his first visit as president to Washington, gave a one-on-one interview with VOA Afghan Service reporter Said Suleiman Ashna, about his request for a change in U.S. troop levels, the threat from the Islamic State, and repairing relations with the United States and Pakistan. The interview was held at Blair House, late Sunday, in Pashto.
Video

Video California Science Center Tells Story of Dead Sea Scrolls

The ancient manuscripts were uncovered in the mid-20th century, and they are still yielding clues about life and religious beliefs in ancient Israel. As VOA's Mike O'Sullivan reports, an exhibit in Los Angeles shows how modern science is bringing the history of these ancient documents to life.
Video

Video Angelina Jolie Takes Another Bold Step

Hollywood actress and filmmaker Angelina Jolie has revealed she had her ovaries and fallopian tubes removed to lower her odds of getting cancer. Doctors say the huge publicity over her decision will help raise awareness about the importance of cancer screening. VOA’s George Putic has more

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
0.9211
JPY
USD
119.18
GBP
USD
0.6722
CAD
USD
1.2509
INR
USD
62.518

Rates may not be current.