WASHINGTON: French finance minister Christine Lagarde on Tuesday was elected the managing director of the International Monetary Fund, maintaining Europe’s grasp on the top job at the global lender. She begins her five-year term on July 5. Lagarde, 55, is the first woman to lead the IMF, succeeding Dominique Strauss-Kahn, who resigned in May to defend himself against charges of sexual assault against a hotel maid in New York. (Agencies)
‘We cannot match India militarily’
ISLAMABAD: Pakistan cannot afford to match the induction of modern weaponry by India, which possibly has a greater capacity to sustain a war, Pakistani defence minister Chaudhry Ahmad Mukhtar has said. “If we only try to match them (India) militarily and buy the sort of armament which they have, we will probably not be able to afford it,” Mukhtar said in an interview to BBC Urdu. (PTI)
