Lagarde was voted as the IMF’s eleventh managing director by the executive board yesterday and is the first female to be appointed to the role in its 67-year history. She will serve as the managing director for a term of five years, after which the executive board will vote in her replacement.
The 55 year old, who will reportedly earn £320,000 in the new job, said in a statement: “I am deeply honoured by the trust placed in me by the Executive Board. I would like to thank the Fund’s global membership warmly for the broad-based support I have received. I would also like to express my respect and esteem for my colleague and friend, Agustín Carstens.”
