Lagarde resigns as IMF Managing Director moves to European Central Bank


The Managing Director, International Monetary Fund, IMF, Ms. Christine Lagarde has resigned from her appointment at the international financial organization to head European Central Bank.
Lagarde disclosed this on Tuesday in a statement.
Her words: “I am honored to have been nominated for the Presidency of the European Central Bank. In light of this, and in consultation with the Ethics Committee of the IMF Executive Board, I have decided to temporarily relinquish my responsibilities as Managing Director of the IMF during the nomination period.”
On Tuesday, European leaders nominated Lagarde to become the next president of the European Central Bank.
Lagarde’s nomination was announced in a tweet by European Council President, Donald Tusk following a meeting between leaders that has lasted since Sunday. While her appointment still needs to be confirmed by the European Parliament, Tuesday’s vote, from the heads of European States, sets her up to be the first female head of European monetary policy.
Ms. Lagarde, who has led the IMF since 2011, will take up the position of head of the European Central Bank as a self-confessed economic outsider who has preferred to emphasise her ability as a listener and tough negotiator for the period she held the fort at the IMF.


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