Lagarde takes office at IMF

CHRISTINE Lagarde, who took office as IMF managing director yesterday, has signed up for tougher ethical rules than her predecessor as the lender seeks to alter its reputation in the wake of Dominique Strauss-Kahn’s resignation.

Her terms of employment were made public as she arrived at the International Monetary Fund’s Washington headquarters, where she was scheduled to meet department heads, staff and the board.

Lagarde’s contract holds her to the “highest standards of ethical conduct”, a spokesperson said.