IMF Boss, Christine Lagarde to Resign September 12

Posted by African Examiner Latest Headlines, World News Tuesday, July 16th, 2019

(AFRICAN EXAMINER) – Following her nomination as the head of the European Central Bank (ECB), the Managing Director of the International Monetary Fund (IMF) Christine Lagarde has hinted she will step down from her present office.

Ms Lagarde clarified that she would leave the IMF Thursday, September 12, 2019.

“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.

“The Executive board will now be taking the necessary steps to move forward with the process for selecting a new managing director’’ Lagarde said.

The former French cabinet Minister has been the head of the IMF since 2011.

If the European Council ves her ECB nomination, she will become the central bank’s first ever female leader, responsible for the euro and the monetary policy of the eurozone.

Ms Lagarde, 63, who is otherwise referred to as the “rock star” of international finance, began her career as a lawyer before moving into politics.

She served in various Ministerial posts under Nicolas Sarközy before being elected as the first female boss of the IMF – replacing Dominique Strauss Khan.