Holton Arms Alum Appointed Managing Director of IMF

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    The new head of the International Monetary Fund has a local connection.

    French Foreign Minister Christine Lagarde, who once attended Holton Arms School in Bethesda, Md., is the first woman ever appointed managing director the IMF.

    She'll replace Dominique Strauss-Kahn, who resigned after being accused of sexual assault at a New York hotel.

    Lagarde has wide support in Europe because of her leading efforts to fight the debt crisis.