Statement by Christine Lagarde on Her Selection as IMF (International Monetary Fund) Managing Director

Press Release No.11/ 260 June 28, 2011

Ms. Christine Lagarde issued the following statement today after the Executive Board of the International Monetary Fund (IMF) selected her as the IMFs next Managing Director, the 11th since the Funds inception in 1944: The Executive Board of the International Monetary Fund has just selected me to succeed Dominique Strauss-Kahn as Managing Director for a ve-year term, starting on July 5.I am deeply honored by the trust placed in me by the Executive Board. I would like to thank the Funds 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, Agustn Carstens.
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The IMF has served its 187 member countries well during the global economic and nancial crisis, transforming itself in many positive ways. I will make it my overriding goal that our institution continues to serve its entire membership with the same focus and the same spirit. As I have had the opportunity to say to the IMF Board during the selection process, the IMF must be relevant, responsive, effective, and legitimate, to achieve stronger and sustainable growth, macroeconomic stability, and a better future for all.

Christine LAGARDE Minister for Economy, Finance and Industry

On November 14, 2010, Christine LAGARDE was reappointed Minister for Economy, Finance and Industry in the Government of Prime Minister Franois FILLON. Born in Paris in 1956, Christine LAGARDE completed her undergraduate studies in Le Havre and Bethesda (Md, USA) at Holton Arms School. She then graduated from law school (Paris X), and obtained a Master degree from the Political Science Institute in Aix en Provence. After being admitted as a lawyer to the Paris Bar, Christine LAGARDE joined the international law rm of BAKER & MCKENZIE as an associate, specializing in Labour, Anti-trust and M & A. Member of the Executive Committee of the Firm in 1995, Christine LAGARDE became Chairman of the Global Executive Committee of Baker & McKenzie in 1999, and subsequently Chairman of the Global Strategic Committee in 2004. Under her leadership, BAKER & MCKENZIE increased their gross revenues by 50 %, and ended the scal year 2004 at USD 1.3 bn. Asked by the French Prime Minister, Dominique de VILLEPIN, to join his Government in June 2005, Christine LAGARDE decided to put her skills and work experience to the service of her country. Her nomination as Minister for Foreign Trade allowed Christine LAGARDE to use her negotiation skills during the World Trade Organisation talks. She also promoted French exportations. After a brief stint as Minister for Agriculture and Fisheries under the newly elected President Nicolas SARKOZY she became the rst woman to hold the post of Finance and Economy Minister of a G7 country, resulting from the ministerial reshufe of June 2007. Her nomination was widely acclaimed in the international press. Since then, Christine LAGARDE has been in charge of France's economic policy in the challenging context of one of the most severe crisis since WWII. She also chaired the ECOFIN council, which gathers the Finance Ministers of the European Union, from July 2008 to

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December 2008. During this period, and under Mrs. LAGARDE's leadership, unprecedented measures to support the nancial system as well as the European economies were adopted. A regular participant at the G20 meetings, Christine LAGARDE has contributed to foster international policies regarding supervision and regulation within the nancial sector including issues regarding compensation or non cooperative jurisdictions. In order to combat the effects of the crisis and provide protection from the negative repercussions of a poorly-managed nancial system, Christine LAGARDE, in concert with the member countries of the G20, is working to introduce global economic governance. In 2009, Christine LAGARDE was ranked the 17th most inuential woman in the world by Forbes magazine, the 5th best European executive woman by The> Wall Street Journal Europe and became one of Time magazine top 100 world leaders. The Financial Times named her European Finance Minister of 2009, and in a recent poll conducted for RTL and Le Parsien, she was the second most popular public gure in France. Christine LAGARDE was awarded Trombinoscope's Minister of the Year prize for 2009 and, following a poll by l'Express magazine, she was elected Best Minister by her peers. Christine LAGARDE also tops the list of best ministers as published by the review Valeurs Actuelles. Christine LAGARDE takes over from Philippe SEGUIN as head of the Board of Directors of Sciences-Po Aix-en-Provence Christine LAGARDE, a former member of the French national team of synchronized swimming, is the mother of 2 sons. She was named Chevalier in the Lgion d'honneur in July 2000.

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