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Indeed, newly-elected IMF chief, Christine Lagarde faces a series of challenges, such as confronting the European debt crisis and the reform of the IMF in her term.
France's Finance Minister Christine Lagarde |
Among the challenges, she will have to prod fellow Europeans to take painful steps to prevent a default by Greece. She'll also face pressure from developing nations that want a greater voice at the IMF.
And she'll be looked upon to restore the IMF's reputation, which was tarred by a scandal involving Dominique Strauss-Kahn, the man she's replacing. Most urgently, she will be expected to help stabilize Europe's debt crisis.
As one of the longest-serving ministers under French President Nicolas Sarkozy, Lagarde made the country's labor market rules more flexible. Forbes magazine has listed her as one of the world's most powerful women.