Lagarde resigns as IMF chief, cites more clarity on ECB post

Breaking Headlines
2019-07-16 | 12:37
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Lagarde resigns as IMF chief, cites more clarity on ECB post
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Lagarde resigns as IMF chief, cites more clarity on ECB post

International Monetary Fund Managing Director Christine Lagarde announced on Tuesday she had submitted her resignation from the global lender, saying she had more clarity about her nomination to be the next head of the European Central Bank.

 

Lagarde said in a statement her resignation was effective Sept. 12, opening the way for the IMF to choose its next leader.

 

"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," she said in a statement.

 

She said her resignation would expedite the selection of her successor.

 

Lagarde's resignation comes two weeks after her nomination on July 2 for the ECB top job. She did not immediately resign from the IMF because of uncertainty over whether the new European Parliament would approve her and other new EU leadership positions, sources told Reuters.

 

Lagarde's nomination is subject to approval by a fractious European Parliament. If approved, she would take over as ECB president from Mario Draghi on Oct. 31.

 

Lagarde's second five-year term as IMF managing director was not due to end until July 2021. Traditionally the post has always been held by a European, while the head of the IMF's sister organization, the World Bank, has always been an American.

 

 
REUTERS

Breaking Headlines

Lagarde

IMF

LBCI Next
Grand Mufti Derian travels to Saudi Arabia for Hajj
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More