Christine Lagarde steps down from IMF, vies for EU Central Bank Presidency

Christine Lagarde, on Tuesday, stepped down as Managing Director of the International Monetary Fund (IMF) following his nomination for the European Central Bank Presidency.

The French lawyer and long serving IMF MD issued the following statement in the earlier hours of Tuesday.

“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.”