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NEWS > EVERYONE ELSE > A WOMAN, YES A WOMAN, THE FAVOURITE TO TAKE OVER IMF
A WOMAN, YES A WOMAN, THE FAVOURITE TO TAKE OVER IMF
May 23 2011
Washington, D.C. – Until the recent sex assault scandal involving Dominique Strauss-Kahn very few people were actively aware of the International Monetary Fund as a real organization. For most people the term IMF was a thing unto itself, a vague 
name for some mysterious institution which was mentioned every now and then but which was, for the most part, just part of the background noise of the world. Obviously, that changed very rapidly last week with the incident revolving around Strauss-Kahn whose deeds have brought the organization to the tongues of millions around the world.
While his actions have certainly brought a lot of attention, most of it unwanted, to the organization business still has to go one as usual. As the bank of the world, the IMF cannot simply shut down because of the actions of its employees, even the people at the top. With Strauss-Kahn gone the business has gone on, including a search for a successor to lead the organization and keep global finances fluid. Currently, the favourite to take over as Managing Director is French finance minister Christine Lagarde, who would be the first woman to ever run the organization, something many people in international finance had hoped would never happen.
“Lagarde is a very bright lady, very bright and has done a fantastic job in helping to keep France fluid throughout the financial crisis. She really is a at the top of the game
in terms of banking and in any other circumstance it would be a totally sensible solution, but she is a woman and that is really not what most people want,” said an IMF insider. “There is a great deal of concern that she is a little too conservative, which makes sense, and her presence will force us to restrict spending on things that we really want. This has never been a problem with other directors and we are very concerned about how that will impact the culture of the IMF.”
Strauss-Kahn resigned following his indictment on the sex assault incident, which occurred in New York.
“Everyone is still reeling with this situation. Many people liked Strauss-Kahn, well many men did, and these charges have thrown all of us off. No one expects that their boss is going to rape someone and be arrested. You show up for work expecting that the day is going to be just like the day before. It’s been a very disturbing time for everyone at the organization to say the least,” continued the insider. “Obviously, no matter what happens and no matter what he did, Dom is not going to come back to the job. We’ve accepted that but we still want a good boss. You never know what kind of changes are going to come about with new leadership but we had a bit of an idea before, but if Lagarde comes in, well that changes the dynamic pretty thoroughly.”
Aside from her experience in finance, Lagarde was also a member of the French national synchronised swimming team in her youth.
“This is a big deal, there is a reason it has gotten so much attention throughout the world. The IMF is an incredibly influential organization and their policies impact pretty much the entire world and so you have to be concerned as to who is in charge,” said Scrape TV Business analyst Ken Green. “Having a woman in charge may not be a disaster but it certainly is different. She is absolutely going to run things a little differently. I’m not sure if the kind of conservative views that many women have in regards to finance is the best thing at this time, but I guess we will have to see. It really does look like this is going to happen.”
Lagarde, 55, is not married but apparently has no history of rape or any other type of sexual assault unlike previous heads of the organization. That is not expected the exclude her from candidacy.
Emil Uliya, International Correspondent
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