Tashkent, Uzbekistan (UzDaily.com) -- Ms. Christine Lagarde, Managing Director of the IMF, announced about her resignation from her post.

“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 statement of Lagarde said.

“The Executive Board will now be taking the necessary steps to move forward with the process for selecting a new Managing Director. David Lipton remains our Acting Managing Director,” it reads.

The Fund will communicate on the Executive Board’s process of selecting a new Managing Director in due course. Mr. David Lipton remains Acting Managing Director.