It is the first day in the IMF’s top job for Christine Lagarde.
She is the first woman to head the International Monetary Fund – and the signs are it won’t be an easy ride.
The post became vacant after Dominique Strauss-Kahn resigned following his arrest in New York in May, on charges of sexual assault. He denies the charges.
Although she is the first woman to hold the post, Lagarde’s appointment continues the tradition that the IMF is run by a European.
The former French finance minister was backed by the EU, US and emerging economies China, India and Brazil.
She beat the Mexican candidate, Agustin Carstens.
She will have to hit the ground running. The IMF is deeply involved in the euro crisis and in bailing out debt-stricken Greece.
One of the most important tasks facing Lagarde at the start of her five-year term will be preventing the spread of debt contagion to other Eurozone economies.