Christine Lagarde, the French finance minister, has been named as the first-ever female chief of the International Monetary Fund, the international lender has announced.
Lagarde was elected at a meeting of the IMF's 24-member executive board on Tuesday.
"The executive board of the International Monetary Fund today selected Christine Lagarde to serve as IMF managing director and madame chairman of the executive board for a five-year term starting on July 5, 2011," the IMF said in a statement.
The IMF said she was elected by consensus, rather than a vote.
The office of President Nicolas Sarkozy termed the appointment a "victory for France".
Lagarde was elected at a meeting of the IMF's 24-member executive board on Tuesday.
"The executive board of the International Monetary Fund today selected Christine Lagarde to serve as IMF managing director and madame chairman of the executive board for a five-year term starting on July 5, 2011," the IMF said in a statement.
The IMF said she was elected by consensus, rather than a vote.
The office of President Nicolas Sarkozy termed the appointment a "victory for France".
