Christine Lagarde has resigned as
the managing director of International Monetary Fund (IMF).
In a statement released on
Tuesday, Lagarde said her resignation will be effective from September 12.
The 63-year-old was appointed to
lead the Bretton Wood institution in 2011.
She got re-elected for a second
term in 2016.
“I have met with the Executive
Board and submitted my resignation from the Fund with effect from September 12,
2019. The relinquishment of my responsibilities as Managing Director announced
previously will remain in effect until then.
“With greater clarity now on the
process for my nomination as ECB President and the time it will take, I have
made this decision in the best interest of the Fund, as it will expedite the
selection process for my successor.
“The Executive Board will now be
taking the necessary steps to move forward with the process for selecting a new
Managing Director.”
Lagarde had previously stepped
aside temporarily from her position at the IMF after she was nominated to be
the president of the European Central Bank.
David Lipton, the first deputy
managing director, has been the acting managing director.
IMF’s executive board has
accepted her resignation, announcing that the process of selecting the next
managing director would begin promptly.
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