Lagarde to resign from IMF w.e.f Sept; selection process for next MD to start promptly

IMF-Christine-Lagarde

July 17, 2019 (LBO) – IMF Executive Board has accepted Managing Director Christine Lagarde’s resignation from the fund with effect from 12 September 2019.

“We would like to express our greatest appreciation for all that Managing Director Lagarde has done for the institution,” the IMF said in a statement.

According to the IMF, 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 Fund has excelled in serving its entire membership over the course of her tenure with cutting-edge policy advice supported by ground-breaking analytical work on a range of macro-critical issues.”

With this decision, the IMF Executive Board will initiate the process of selecting the next Managing Director.

The Executive Board, however, said David Lipton will remain as the Acting Managing Director of the fund in the interim period.