IMF taps French Lagarde as new Managing Director

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　　The Executive Board of the IMF said it has picked Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term starting on July 5, 2011, according to a statement of the Washington-based IMF, which lends to financially troubled member countries.

　　Lagarde, who succeeds Dominique Strauss-Kahn, becomes the first woman named to the top IMF post since the institution's inception² in 1944.

　　The 24-member board said Lagarde and Mexican central bank governor Agustin Carstens are both "well qualified³" candidates, and it decided⁴ on Lagarde by consensus⁵.

　　According to the agreed procedures, the board had agreed to meet with Carstens and Lagarde for the post. The candidates met bilaterally⁶ with Executive Directors, as well as the Executive Board last week. In these meetings, the two candidates had the opportunity to present relevant information concerning their specific candidacies, noted⁷ the statement.

　　"Based on the candidate profile that had been established, the Executive Board, after considering all relevant information on the candidacies, proceeded to select Lagarde by consensus. The Executive Board looks forward to Lagarde effectively leading the IMF as its next Managing Director," added the statement.

　　The Managing Director is the chief of the IMF's operating staff and chair of the Executive Board. The IMF chief is assisted by three Deputy Managing Directors in the operation of the Fund, which serves 187 member countries.(本文由在线英语听力室整理编辑)

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