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Pranab Mukherjee congratulates new IMF MD

Washington: Finance Minister Pranab Mukherjee on Tuesday congratulated French Finance Minister Christine Lagarde on her appointment as the new Managing Director of the International Monetary Fund.

In a message to Lagarde, Mukherjee congratulated her on her new position and said India is looking forward to working with her in her capacity as the new IMF Managing Director.

Lagarde, who had travelled to New Delhi canvassing for her election, is the first woman named to the top IMF post since the institution`s inception in 1944.

"The Executive Board of the International Monetary Fund (IMF) today selected Christine Lagarde to serve as IMF Managing Director and Madame Chairman of the Executive Board for a five-year term, starting on July 5, 2011," an official IMF announcement said Tuesday.

"I am deeply honored by the trust placed in me by the Executive Board. I would like to thank the fund`s global membership warmly for the broad-based support I have received.

I would also like to express my respect and esteem for my colleague and friend, Agust?n Carstens," she said in her first official statement.

Earlier in the day, at a joint news conference with US Treasury Secretary Timothy Geithner, Mukherjee pointed out that during the election process, India had insisted that the IMF Managing Director should be selected through a transparent mechanism, not specific to any region or any particular nation.

"On the basis of that, we also suggested that we would like to be a part of the consensus, which should be evolved," he said. .

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