First Woman head of the IMF

The former (previous) Finance Minister of France, Christine Lagarde has become the first woman to head the International Monetary Fund (IMF). She will be the Managing Director of the IMF for the next five years.

The IMF is an important organization that has been set up jointly by countries from around the world. It tracks and reviews the laws and rules related to money and the spending of money by Governments around the world. It also gives loans (lends money) to poor nations.