Washington: French politician Christine Lagarde on Tuesday said she will resign as the Managing Director of the International Monetary Fund (IMF) with effect from September 12.
She has been nominated by the European Council as President of the European Central Bank. Her resignation has been accepted by the IMF Executive Board with effect from September 12.
Until September 12, she will be helping the IMF members navigate an unprecedented set of challenges, including the impact of the global financial crisis and its afterstocks.
In a statement, Lagarde 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."
IMF Executive Board said that it has accepted the resignation of Lagarde and said, "Her legacy of achievements has made a lasting imprint on the Fund. Under her guidance, the Fund successfully helped its members navigate a complex and unprecedented set of challenges, including the impact of the global financial crisis and its aftershocks."
The 63-year-old former French Cabinet minister has been head of the IMF since 2011.
David Lipton remains the IMF Acting Managing Director in the interim period.
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