A compilation of selected speeches by IMF Managing Director Christine Lagarde.


The Power of Partnership


Christine Lagarde


The Power of Partnership


Christine Lagarde



Washington, DC

Cover photo by Karla Chaman.

Christine Lagarde met Maximiliana Taco during a visit to Ayacucho, Peru in 2014. Maximiliana Taco is featured in the speech “Brothers and Sisters, There is Much to Do” on page 115.

Copyright © 2011–2019

International Monetary Fund

Washington, D.C. 20090, U.S.A.

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ISBN: 978-151350990-7 (paper)

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There are two ways of spreading light: to be the candle or the mirror that reflects it.”


Inside this compilation of selected speeches by Christine Lagarde, Managing Director of the International Monetary Fund from 2011 through 2019, you will find both the breadth and depth of the insights that she brought to the Fund and shared more broadly with the global economic community.

Her speeches cover some of the most pressing fiscal, monetary, and financial issues facing the world today: from focusing on excessive inequality to strengthening the global trading system; from showing the enormous growth potential of raising female labor force participation to highlighting the gaps in financial stability.

As you read these speeches, you quickly appreciate that this is a leader with a clear sense of the world she wants to help improve and, more importantly, one who provides direction on how to get there. The lodestar through this journey is multilateralism and the need for more international cooperation.

Known affectionately inside the Fund as “MD,” we, her current and previous management team—David Lipton, Mitsuhiro Furusawa, Tao Zhang, Carla Grasso, Min Zhu, Naoyuki Shinohara, and Minouche Shafik—and Directors of the departments and offices at the IMF, wish through this volume to pay tribute to her extraordinary ability to inspire.

The MD is both the candle and the mirror. She knows when to provide that guiding light of ideas, which can lead us to an effective solution. Yet, as an exceptional leader, she also helped each of us shine bright. We are truly indebted to her leadership, her vision, and her kindness.

IMF Management Team and Heads of Departments and Offices

September 2019