International Monetary Fund (IMF) chief Christine Lagarde offered her resignation on Tuesday, ahead of her possible confirmation as the next President of the European Central Bank (ECB), sparking a race to appoint her successor.
Lagarde issuing a statement 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.
“The Executive Board will now be taking the necessary steps to move forward with the process for selecting a new Managing Director. David Lipton remains our Acting Managing Director,” she added.
(euronews.com)
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