Connect with us

Hi, what are you looking for?

News

IMF Boss, Lagarde, Resigns

The Managing Director, International Monetary Fund, Christine Lagarde, has tendered her resignation, which will take effect from September 12.

The executive board of the fund has accepted the resignation and said that it would begin a selection process promptly.

A statement from the executive board issued on Tuesday said, “Today the IMF executive board accepted Managing Director, Christine Lagarde’s resignation from the fund with effect from September 12, 2019.

“We would like to express our greatest appreciation for all that managing director 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.”

It added, “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. 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.”

The executive board added that it had the utmost confidence in Mr David Lipton who would remain acting managing director of the fund in the interim period.

_____

Follow us on Twitter at @thesignalng

Copyright 2019 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant source.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Related

News

Nigerians should not be afraid of any form of food crisis, the Federal Government said on Monday, as it kicked against the projections of...

News

The International Monetary Fund has said inflation, debt, and forex crisis is pushing the Nigerian economy and other African economies to the brink. The...

News

The International Monetary Fund has noted the rising rate of unemployment, after an analysis of the economic and financial developments in Nigeria. This observation...

News

European Central Bank (ECB) chief Christine Lagarde said Monday it was “crucial” for the EU’s 750-billion-euro coronavirus recovery plan to succeed as new epidemic-busting...

Copyright ©