Lagarde 'excellent choice' as IMF head: Germany

28th June 2011, Comments 0 comments

German Finance Minister Wolfgang Schaeuble said Tuesday the appointment of Christine Lagarde as head of the International Monetary Fund was "an excellent choice."

"I'm delighted for Madame Lagarde. It's an excellent choice," one of Schaeuble's spokesmen quoted him as saying.

Germany had backed Lagarde's candidature, saying she was "a person with great ability."

The French finance minister was announced as the new managing director of the IMF on Tuesday, successor to Dominique Strauss-Kahn who resigned after being charged with sexual offences against a hotel maid in New York.

Lagarde, the first female head of the organisation, said she was "deeply honoured" to have been selected over Mexican central bank chief Agustin Carstens.

"The IMF has served its 187 member countries well during the global economic and financial crisis, transforming itself in many positive ways," she said in a statement.

"I will make it my overriding goal that our institution continues to serve its entire membership with the same focus and the same spirit."

© 2011 AFP

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