She will begin her five-year term as the IMF’s 11th leader on July 5, in place of Dominique Strauss-Kahn

French Finance Minister Christine Lagarde was named the first female head of International Monetary Fund (IMF) after the United States, India and some other fast-growing emerging nations backed her.

Lagarde, 55, won the job over Mexican Central Bank Governor Agustin Carstens after gaining a reputation as a skilled negotiator during the financial crisis within both the Group of 20 and the European Union.

Besides India, Lagarde won the support of several large emerging market countries, including Brazil and China, over her Mexican rival.