Lagarde Resigns As IMF Chief, Cites More Clarity On ECB Post | 5/30/2019 | Staff
dorkyrocker (Posted by) Level 3
WASHINGTON (Reuters) – International Monetary Fund chief Christine Lagarde announced on Tuesday she had submitted her resignation from the global lender, saying she had more clarity about her nomination to be the next head of the European Central Bank.

Lagarde said in a statement her resignation was effective Sept. 12, opening the way for the IMF to launch the search for her successor, which is likely to be another European.

Clarity - Process - Nomination - ECB - President

“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,” Lagarde said in a statement.

She said her resignation would expedite the selection for the next head of the IMF.

Lagarde - Resignation - Weeks - Nomination - July

Lagarde’s resignation comes two weeks after her nomination on July 2 for the ECB’s top job. She did not immediately resign from the IMF because of uncertainty over whether the new European Parliament would support her and other new EU leadership positions, sources told Reuters.

Lagarde’s decision to resign comes on the eve of a meeting of the Group of Seven finance ministers in Chantilly, France.

US - Treasury - Secretary - Steven - Mnuchin

U.S. Treasury Secretary Steven Mnuchin is slated to meet with Bank of England Governor Mark Carney – one of the leading candidates to replace Lagarde – on Wednesday evening on the sidelines of the meeting.

White House economic adviser Larry Kudlow last week declined to comment when asked about Carney as a possible replacement for...
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