IMF names French Finance Minister Christine Lagarde president of the fund

 The IMF board announced on Tuesday it selected French Finance Minister Christine Lagarde for the position, “Reuters” news agency writes.

The appointment of Lagarde as IMF managing director came as little surprise in recent days after she was endorsed by China on Monday. She also received support from the United States Tuesday, hours before the IMF announcement. Russia and most of the European countries also backed her.