The International Monetary Fund's new chief, Christine Lagarde, has a chance to make a splash this week as financeministers and central bankers from around the world gather in Washington for the IMF's annual meeting. The overriding question: How to stop the global economy from sliding back into recession?

IMF managing directors are usually a cautious lot, who take their cues from the leaders of the fund's 187 member nations, especially its most powerful ones.

But Ms. Lagarde seems to be willing to take greater risks