Washington, The International Monetary Fund (IMF) Executive Board issued a statement saying that Managing Director Christine Lagarde resigns with effect from September 12.In a statement on Tuesday, the Board stated, "Today the IMF Executive Board accepted Managing Director Christine Lagarde’s resignation from the Fund with effect from September 12, 2019," adding "We would like to express our greatest appreciation for all that Lagarde has done for the institution.
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 statement further read, 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. Her stewardship has been exceptional, and we are grateful for her innovative and visionary leadership.
“With this decision by Managing Director Lagarde, the IMF Executive Board will initiate promptly the process of selecting the next Managing Director and will communicate in a timely fashion, " Board added.