Christine Lagarde resigns as IMF head

Christine Lagarde resigns as IMF head

Christine Lagarde has announced she will step down as managing director of the International Monetary Fund (IMF) on 12 September, following a decision on her nomination to become head of the European Central Bank (ECB).

“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.

“The executive board will now be taking the necessary steps to move forward with the process for selecting a new managing director.”

Ms Lagarde, a former French cabinet minister, has been at the helm of the IMF since 2011.

If the European Council approves her ECB nomination, she will become the first ever female to occupy the position and will be responsible for the euro and the monetary policy of the eurozone.

Ms Lagarde has consistently ranked among the top 10 most powerful women in the world since assuming the IMF’s top job.

Balanced journalism is essential to keeping people properly informed. If you feel our coverage of this story is biased, please let us know.