Christine Lagarde, the Managing Director of the International Monetary Fund announced her resignation. The statement has been released on the Fund's official web site.
“I have met with the Executive Board and submitted my resignation from the Fund with effect from September 12, 2019. The relinquishment of my responsibilities as Managing Director announced previously will remain in effect until then. 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, as it will expedite the selection process for my successor", the document says.
David Lipton will continue to serve as Acting Managing Director of the Fund.
Lagarde is officially nominated for the office of the Head of European Central Bank.