The Obama administration announced today that the U.S. is throwing its support behind French Finance Minister Christine Lagarde to take over as the new managing director of the International Monetary Fund, replacing
Dominique Strauss-Kahn who was ousted from the position amid accusations of sexual assault last month.
“Minister Lagarde’s exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy,” Treasury Secretary Timothy Geithner said in a written statement.
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