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IMF: Christine Lagarde resigns as MD
Economy

IMF: Christine Lagarde resigns as MD

Agency News

Washington, Jul 17 : The International Monetary Fund's Managing Director, Christine Lagarde resigned with effect from September 12, 2019.

In a statement on Tuesday, she said “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.

Further, she said the Executive Board will now be taking the necessary steps to move forward with the process for selecting a new Managing Director, adding "David Lipton remains our Acting Managing Director.”

The Fund will communicate on the Executive Board’s process of selecting a new Managing Director in due course.(UNI)