US President talks with IMF chief Lagarde over economic development

President Obama talks first time with the new IMF chief over global issues. The White House agrees with Christine Lagarde (lah-GAHRD’) considering the global need for formulating policies for creating jobs and inducing economic growth.

The two diplomats agreed on recognition of emerging economies like China for their contribution to the growing pace of global economic growth.

Dominique Strauss-Kahn had joined IMF as its managing director in 2007, supported by Sarcozy, France’s president. He continued working with the organization until May, 2011. Kahn is also a professor of economics at the Paris Institute for political studies. He resigned from the post when charged of sexual assault were made against him.

Lagarde has achieved the post as the first woman to head the International Monetary Fund. She also hails from France.

She was a lawyer by profession and also worked as Minister of economic affairs, finance and industry, agriculture minister and trade minister for France.