IMF releases terms of Lagarde’s post

THE International Monetary Fund (IMF) says its new managing director, Christine Lagarde, will receive an annual salary of $467,940 (€323,496) net of income taxes and told her to “observe the highest standards of ethical conduct.”

The IMF released the terms and conditions of Lagarde’s employment yesterday, her first day on the job. She is scheduled to hold a news conference today at the fund’s headquarters in Washington.

“As managing director, you are expected to observe the highest standards of ethical conduct, consistent with the values of integrity, impartiality and discretion,” according to her employment conditions.