named the first woman to head the International Monetary Fund (IMF).
The announcement of her appointment came soon after she received the backing of the US and Russia.
Ms Lagarde, the French minister of finance since June 2007, was up against Mexico’s Agustin Carstens. An IMF statement said that both candidates “were well qualified”.
The post became vacant following the resignation of Dominique Strauss-Kahn.
