Christine Lagarde steps down as head of the IMF

Christine Lagarde has announced her resignation as Managing Director of the International Monetary Fund.

According to Lagarde, the resignation will take place on September 12. She will leave the post for a job as the chairman of the European Central Bank. It is expected that the approval of her candidacy for the post of head of the ECB will take place later than July 16.

• Lagarde became head of the IMF in 2011 when her predecessor, Dominique Strauss-Kahn, was forced to step down amid rape allegations.
• Lagarde became the first woman in history to serve as head of the IMF.