File photo: Christine Lagarde
International Monetary Fund (IMF) Managing Director Christine Lagarde withdrew from a graduation speech at prestigious Smith College in the United States after students and faculty protested IMF policies.
Lagarde pulled out on Monday after a petition signed by students, faculty and alumni of the progressive all-women's college said that the IMF promotes economic policies that exacerbate the oppression of women.
"Although we do not wish to disregard all of Ms. Lagarde's accomplishments as a strong female leader in the world, we also do not want to be represented by someone whose work directly contributes to many of the systems that we are taught to fight against."
"The IMF has been a primary culprit in the failed developmental policies implanted in some of the world's poorest countries," a group of students, faculty and alumni said in a petition.
"This has led directly to the strengthening of imperialist and patriarchal systems that oppress and abuse women worldwide."
Lagarde, the first woman to lead the global crisis lender, told Smith President Kathleen McCartney that she respects the protesters' views and understands "the vital importance of academic freedom."
"However, to preserve the celebratory spirit of commencement day, I believe it is best to withdraw my participation," she said, according to McCartney.
McCartney said in a statement that "those who objected will be satisfied that their activism has had a desired effect,"
"But at what cost to Smith College? This is a question I hope we will ponder as a community in the months ahead."
She said Lagarde would be replaced by former Smith president Ruth Simmons.
Smith, founded in 1871, has educated a large number of stalwarts of the US women's movement and pioneers breaking into fields dominated by men.
Former students and graduates include women's rights activists Gloria Steinem and Betty Friedan, authors Margaret Mitchell and Sylvia Plath, and a number of top US politicians, scientists and chief executives of major corporations.
Lagarde is not the only person this year to come under fire as a graduation speaker, a tradition across US universities that often sparks controversy.
Former US Secretary of State Condoleeza Rice was stopped from addressing the graduates this year at Rutgers University and former Dutch lawmaker Ayann Hirsi Ali, known for her criticism of Islam on human rights grounds, was compelled to drop a speech at Brandeis University.