BBC Learning English
Words in the News
29

th

June 2011

New leader for International Monetary Fund

Words in the News

© British Broadcasting Corporation 2011

Page 1 of 2

bbclearningenglish.com

Christine Lagarde, the French finance minister, has been selected to be the next managing

director of the International Monetary Fund. BBC Correspondent Christian Fraser reports

from Paris.

France has held this position for 26 of the past 33 years. So it's "as you were" with one

notable, pretty obvious difference.

Christine Lagarde is a woman. She was the first woman to become the finance minister of a

G7 country and will now resign her post within the French government to become the first

woman to head the IMF.

But such is the respect with which this former lawyer is held internationally it has come as

little surprise. She's been the point on many European financial issues in recent years, she is

a fluent English speaker and once she had picked up the endorsements of India and China,

her confirmation as the new IMF chief was a formality.

There's an unwritten rule that Europe takes the IMF, the United States heads its sister

organisation the World Bank. The developing countries want a bigger say but this is a critical

time for Europe with Greece on the brink. The EU and the IMF is demanding

unprecedented cuts to guarantee the continued funding of last year’s bailout package and

Europe wants one of its own at the helm. Ms Lagarde is straight in at the deep end. They

voted for her knowing she is more than capable - but what a challenge.

Christian Fraser, BBC News

Words in the News

© British Broadcasting Corporation 2011

Page 2 of 2

bbclearningenglish.com

Vocabulary and definitions

notable

something deserving attention

been the point

taken the lead position

endorsements

public statements showing support

a formality

almost certainly guaranteed to happen

an unwritten rule

an accepted but unofficial agreement

a critical time

an extremely important moment that could affect the future

on the brink

on the edge of a very risky or dangerous situation

unprecedented

something that has never been done before to this extent

at the helm

in charge of the organisation

in at the deep end

starting her job in the middle of a very difficult situation

More on this story:

http://www.bbc.co.uk/news/business-13951950

Read and listen to the story and the vocabulary online:

http://www.bbc.co.uk/worldservice/learningenglish/language/wordsinthenews/2011/06/110629_witn_imf_page.shtml