Christine Lagarde
French diplomat, politician and lawyer and 11th managing director of the IMF
Christine Lagarde
Christine Madeleine Odette Lagarde is a French lawyer and politician from the Union for a Popular Movement (UMP) who has been the managing director of the International Monetary Fund since 5 July 2011. Previously, she held various ministerial posts in the French government: she was Minister of Economic Affairs, Finances and Industry and before that Minister of Agriculture and Fishing and Minister of Trade in the government of Dominique de Villepin.
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Treasury Secretary Urges IMF to Police Exchange-Rate Policies
Wall Street Journal - 3 days
Steven Mnuchin told IMF Managing Director Christine Lagarde that he expects the fund to “provide frank and candid analysis of the exchange-rate policies of IMF member countries.”
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Wall Street Journal article
IMF's Lagarde 'optimistic' about US economy
Yahoo News - 13 days
DUBAI: International Monetary Fund chief Christine Lagarde on Sunday voiced optimism for US economic growth under President Donald Trump but warned it could herald trouble for the rest of the world. “From the little we know, and I will insist on the little we know, because this is really work in progress... but from the little we hear, we have reasons to be optimistic about economic growth in the United States,” Lagarde said at the annual World Government Summit in Dubai. Lagarde predicted tax reform and more investment in infrastructure were both likely under Trump, whose Thursday teaser of fresh tax cut proposals pushed Wall Street stocks to new records.
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Yahoo News article
Board Decides To Keep Lagarde As IMF Chief After Conviction
NPR - 2 months
The IMF's board expressed "full confidence" in Managing Director Christine Lagarde after she was convicted of negligence for improperly overseeing a 2008 case when she was France's finance minister. (Image credit: Zach Gibson/AFP/Getty Images)
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NPR article
In a surprise verdict, IMF chief Christine Lagarde found guilty of negligence
LATimes - 2 months
A French court on Monday found Christine Lagarde, head of the International Monetary Fund, guilty of negligence with public funds for approving a controversial multimillion-dollar payment to a businessman.   But judges decided the former French government minister would not be punished with jail...
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LATimes article
IMF's Christine Lagarde Found Guilty Of Negligence Over 2008 Dispute
NPR - 2 months
A French court ruled that the current head of the International Monetary Fund improperly oversaw a case when she was France's finance minister. She was not sentenced to any prison time. (Image credit: Thibault Camus/AP)
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NPR article
IMF's Lagarde speaks of 'five-year ordeal' on last day of negligency trial - 2 months
PARIS (Reuters) - IMF chief Christine Lagarde on Friday told a court trying her for negligence that she had always acted in good faith and that the suspicion that she had lived under for the past five years had been an "ordeal".
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French prosecutor calls for IMF's Lagarde to be acquitted
Yahoo News - 2 months
By Chine Labbé PARIS (Reuters) - The chief prosecutor in the negligence trial of IMF chief Christine Lagarde in Paris called for her acquittal on Thursday, saying the hearing had failed to support the "very weak" case against her. Lagarde, 60, faces charges, which she denies, of being negligent when, as French finance minister, she approved in 2008 a payout to businessman Bernard Tapie in an out-of-court settlement which cost the French taxpayer 400 million euros ($425 million). The trial has gone ahead at a special court in Paris even though the state prosecutor's office said, after the conclusion of the investigation of Lagarde, that the case should be dropped.
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Yahoo News article
IMF's Lagarde grilled over 'punch in the gut' payout to French tycoon
Yahoo News - 2 months
By Chine Labbé PARIS (Reuters) - International Monetary Fund chief Christine Lagarde fought negligence charges in a Paris court on Tuesday, arguing she had approved a 2008 French state payout of 400 million euro ($425 million) to a business tycoon only to end a costly legal battle. Aggressive grilling from the top judge put Lagarde on the defensive during the second day of the trial into her approval as finance minister of the rare out-of-court settlement with Bernard Tapie in a dispute over the sale of a stake in a company. Lagarde, 60, faces up to a year in jail and a fine of 15,000 euros ($16,000) if convicted.
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IMF Chief Lagarde Faces Trial in France
Wall Street Journal - 2 months
Christine Lagarde stands trial in France on Monday over allegations of negligence, the latest step in a legal and political battle that has hung over the former French finance minister since she became head of the International Monetary Fund in 2011.
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Wall Street Journal article
Learn about memorable moments in the evolution of Christine Lagarde
  • 2016
    Age 60
    She was re-elected by consensus for a second five-year term, starting 5 July 2016, being the only candidate nominated for the post of managing director.
    More Details Hide Details Lagarde was born in Paris, France, into a family of academics. Her father, Robert Lallouette, was a Professor of English; her mother, Nicole, was a Latin, Greek and French literature teacher. Lagarde and her three brothers, all younger, spent their childhood in Le Havre where she attended the Lycée François 1er and Lycée Claude Monet. As a teenager, Lagarde was a member of the French national synchronised swimming team.
  • 2015
    Age 59
    On 17 December 2015, the CJR ordered Lagarde to stand trial before it for alleged negligence in handling the Tapie arbitration approval.
    More Details Hide Details Lagarde was interviewed in the documentary film Inside Job (2010), which later won an Academy Award for Best Documentary Feature. The fashion magazine Vogue profiled Lagarde in September 2011. Lagarde was portrayed by actress Laila Robins in the 2011 HBO television drama Too Big to Fail, which was based on the popular book of the same name by New York Times journalist Andrew Ross Sorkin.
    On 17 December 2015, Michel Sapin, French Finance Minister, said that Lagarde could stay on as head of the IMF, despite being charged with criminal negligence.
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    In January 2015, on the death of King Abdullah of Saudi Arabia, Lagarde said "he was a strong believer in pushing forward women's rights", prompting a number of observers to comment on the life of women generally in Saudi Arabia.
    More Details Hide Details The week before Abdullah's death, a Burmese woman had been publicly beheaded. In 2010 Lagarde, then Finance Minister of France, sent a list of 1,991 names of Greek customers who were potential tax avoiders with bank accounts at HSBC's Geneva branch to the Greek government.
    As the crisis peaked again in summer 2015, Lagarde's organization made headlines by calling for massive debt relief for Greece, a call she reiterated personally.
    More Details Hide Details In 2016, the IMF refused to participate with eurozone countries in further emergency financing for Greece, because concrete measures to relieve the country of its debt burden remained absent. Questioned about her economic philosophy, Lagarde has described herself as "with Adam Smith—that is, liberal."
  • 2014
    Age 58
    In 2014, Lagarde was named the fifth most powerful woman in the world by Forbes magazine.
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    Lagarde presented the 2014 Richard Dimbleby Lecture, titled "A New Multilateralism for the 21st Century".
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    Subsequently in August 2014 the CJR announced that it had formally approved a negligence investigation into Lagarde's role in the arbitration of the Tapie case.
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    In 2014, Lagarde was ranked the 5th most powerful woman in the world by Forbes magazine.
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  • 2013
    Age 57
    According to a press report from June 2013, Lagarde has been described by Stéphane Richard, the CEO of France Telecom (a former aide to Lagarde when she was Finance Minister), who has himself been put under formal investigation in the case, as having been fully briefed before approving the arbitration process which benefitted Bernard Tapie.
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    On 24 May 2013, after two days of questioning at the Court of Justice of the Republic (CJR), Lagarde was assigned the status of "assisted witness", meaning that she was not herself under investigation in the affair.
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    On 20 March 2013, Lagarde's apartment in Paris was raided by French police as part of the investigation.
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  • 2012
    Age 56
    In July 2012, as the Greek economy continued to decline, and the country's leaders asked for an easing of the terms of external assistance, Lagarde said she was "not in the negotiation or renegotiation mood at all."
    More Details Hide Details A year later, though, with her own organization conceding that its "rescue" package for Greece had fallen short of what was required, Lagarde—having previously said that Greece's debt burden was "sustainable"—decided that Greece would not recover unless its debt was written off in a meaningful way. According to Yanis Varoufakis, the combative former finance minister of Greece, Lagarde and others at the top of the IMF have been quite sympathetic behind closed doors.
    In an interview in May 2012, Lagarde was asked about crisis-stricken Greece, but opted for a less than sympathetic response.
    More Details Hide Details She drily referred to Greek tax avoidance, and assented to the interviewer's suggestion that Greeks had "had a nice time" but now "it's payback time." Her comments provoked controversy: Evangelos Venizelos said she had "insulted the Greek people", while Alexis Tsipras declared: "We don't need her compassion." In an effort to quell the negative response, the next day Lagarde updated her Facebook page with: "As I have said many times before, I am very sympathetic to the Greek people and the challenges they are facing." Within 24 hours, over 10,000 comments had been left in response, many of them obscene. To her accusations that not enough Greeks paid their taxes, Professor Emeritus John Weeks of the University of London retorted: "The moral weight of Christine Lagarde's matronising of the Greeks to pay their taxes is not strengthened by the fact that, as director of the IMF, she is in receipt of a tax-free annual salary of $468,000 (£298,000, plus perks)."
  • 2011
    Age 55
    On 25 December 2011, Lagarde argued that the world economy was at risk and urged Europeans to unify in terms of the debt crisis facing the continent.
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    On 28 June 2011, the IMF board elected Lagarde as its next managing director and chairman for a five-year term, starting on 5 July 2011.
    More Details Hide Details The IMF's executive board praised both candidates as well-qualified, but decided on Lagarde by consensus. Lagarde became the first woman to be elected as the head of the IMF. Carstens would have been the first non-European. Her appointment came amid the intensification of the European sovereign debt crisis especially in Greece, with fears looming of loan defaults. The United States in particular supported her speedy appointment in light of the fragility of Europe's economic situation. U.S. Treasury Secretary Timothy Geithner said that Lagarde's "exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy." Nicolas Sarkozy referred to Lagarde's appointment as "a victory for France." Oxfam, a charity working in developing nations, called the appointment process "farcical" and argued that what it saw as a lack of transparency hurt the IMF's credibility.
    On 25 May 2011, Lagarde announced her candidacy to be head of the IMF to succeed Dominique Strauss-Kahn upon his resignation.
    More Details Hide Details Her candidacy received the support of the British, Indian, United States, Brazilian, Russian, Chinese and German governments. The Governor of the Bank of Mexico (and former Mexican Secretary of Finance) Agustín Carstens was also nominated for the post. His candidacy was supported by many Latin American governments, as well as Spain, Canada and Australia.
  • 2010
    Age 54
    She was the only member of the French political class to condemn Jean-Paul Guerlain's racist remarks of 2010.
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  • 2007
    Age 51
    On 18 May 2007, she was moved to the Ministry of Agriculture as part of the government of François Fillon.
    More Details Hide Details The following month she joined François Fillon's cabinet in the Ministry of Economic Affairs, Finance and Employment to become the first woman ever in charge of economic policy in France.
  • 2005
    Age 49
    As France's Trade Minister between 2005 and May 2007, Lagarde prioritized opening new markets for the country's products, focusing on the technology sector.
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  • 2004
    Age 48
    In 2004, Lagarde became president of the global strategic committee.
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  • 1995
    Age 39
    She joined the executive committee in 1995 and was elected the company's first ever female Chairman in October 1999.
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  • 1981
    Age 25
    Lagarde joined Baker & McKenzie, a large Chicago-based international law firm, in 1981.
    More Details Hide Details She handled major antitrust and labour cases, was made partner after six years and was named head of the firm in Western Europe.
  • 1973
    Age 17
    After her baccalauréat in 1973, she went on an American Field Service scholarship to the Holton-Arms School for girls in Bethesda, Maryland.
    More Details Hide Details During her year in America, Lagarde worked as an intern at the United States Capitol, as Representative William Cohen's congressional assistant, helping him correspond with his French-speaking constituents during the Watergate hearings. She graduated from Paris West University Nanterre La Défense, where she obtained Master's degrees in English, labor law, and social law. She also holds a master's degree from the Institut d'études politiques d'Aix-en-Provence. Since 2010, she has presided over Sciences Po Aix's board of directors. She also prepared for École nationale d'administration's entrance exam but ultimately failed to gain admission to the elite public administration school. Lagarde is divorced and has two sons, Pierre-Henri Lagarde (born 1986) and Thomas Lagarde (born 1988). Since 2006, her partner has been the entrepreneur Xavier Giocanti from Marseille. A health-conscious vegetarian who rarely drinks alcohol, Lagarde's hobbies include regular trips to the gym, cycling, and swimming.
  • 1956
    Age 0
    Born on January 1, 1956.
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