Lagarde sticks with tradition and appoints American first deputy

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Christine Lagarde, the new managing director of the International Monetary Fund (IMF), has proposed the names for first deputy managing director and another deputy managing director at the IMF.

Lagarde proposed David Lipton, an American, as the first deputy managing director, thereby sticking with the IMF tradition that a European heads the Fund, with a US citizen in the supporting role. Lagarde did, however, seem to make a concession to the pressure surrounding increased emerging market

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