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HomeBusinessIMF chief, Lagarde, announces resignationADVERTISEMENT The Managing Director of the International Monetary Fund, Christine Lagarde, has announced her resignation from the financial organisation. She said in a statement yesterday that she had submitted her resignation from the IMF and it will go into effect in September. 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.” She noted in the letter that while the Executive Board would be taking the needed steps to proceed toward selecting a new managing director, David Lipton would remain the Fund’s acting managing director. On July 9, the EU Economic and Financial Affairs Council adopted a formal recommendation to nominate Lagarde as president of the European Central Bank. Lagarde’s nomination will now be discussed by the ECB governing council and the European Parliament, and the final appointment by European Council in October. In the beginning of July, Lagarde in a statement said she would relinquish her role as head of the IMF during the nomination process to be president of the European Central Bank. Dear Esteemed reader, As part of our drive to keep improving the content of our newspaper, we are conducting a readership survey to enable us serve you better. Kindly take two minutes of your time to fill in this questionnaire. Thank you for your time. Click here to begin Download Daily Trust News App Share this article BREAKTHROUGH NATURAL CURE FOR PROSTATE ISSUES IN JUST 15 DAYS!!! You Can Prevent PROSTATE CANCER!!! Your PROSTATE ENLARGEMENT Is REVERSIBLE!!! Don’t Let It Threaten You! To SHRINK And NORMALIZE Your PROSTATE Within 15 Days Without Surgery Or Chemical Drugs, Click Here!!! Order Now! Limited Stock Available!!! Join us on Follow @daily_trustShare your story with us: 08189301900 (Whatsapp and SMS only) Email: firstname.lastname@example.org Complain about a story or Report an error and/or correction: +2348189301900 DISCLAIMER: Comments on this thread are that of the maker and they do not necessarily reflect the organizations stand or views on issues.