Sunday, November 6, 2011

Female Leader Profile: Christine Lagarde

Christine Lagarde
Director of the International Monetary Fund (IMF)
  • First woman to become minister of Economic Affairs of a G8 economy and lead the IMF
  • Replaced Dominique Strauss-Kahn at IMF in June 2011 
  • French lawyer
  • In the News: Lagarde has played a crucial role in containing the European Debt Crisis as Greece, Ireland, and Portugal have sought out bailouts to pay for their large sovereign debts
  • Lagarde considers herself a follower of Adam Smith economics and supports steep spending cuts
Christine Lagarde is an excellent example of a strong female business leader. Known by her colleagues to be a very independent Director of the IMF, Lagarde has taken strong stands against austerity measures formerly practiced that she believes furthered the debt crisis. She requests that banks do more to stimulate growth and that central banks continue loose-money policies (lowering short term interest rates and making money less expensive to borrow) until recovery. She is a fearless leader who holds everyone to high standards; she pushed for the firing of incompetent managers at a French-Belgian bank who she considered incompetent. While on "The Daily Show" with Jon Stewart in 2009, she remarked, "I, for one, said, 'Management is out. They did a crappy job. They have to go.'" She is blunt and direct, which is often considered an aggressive attitude for a woman to have, but she is clearly taking the IMF in the right direction.

Further Reader
IMF Chief Urges Bold Action to Steady Global Economy
Investors Ask Whether Anything can Save Greece from Default
Lagarde, New IMF Chief, Rocks the Boat

1 comment:

  1. Christine Lagarde will be the first woman to lead the International Monetary Fund and previously worked as the Minister of Economic Affairs of France. A highly acknowledged position and I am hopeful that she will her best.

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