IMF Board Names David Lipton As Interim Leader, Replacing Lagarde
American economist David Lipton will serve as interim leader of the International Monetary Fund, replacing Christine Lagarde who was nominated to head the European Central Bank, the IMF board announced Tuesday.
"We accept Ms Lagarde's decision to relinquish her IMF responsibilities temporarily during the nomination period," the board said.
"We have full confidence in First Deputy Managing Director David Lipton as Acting Managing Director of the IMF."
"It has been one of the great pleasures of my professional life to work with Christine Lagarde at the IMF. She is fantastic. The IMF’s loss would be the ECB’s gain!" Lipton tweeted.
— David Lipton (@Lipton_IMF) July 3, 2019
Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement after she was nominated to head the European Central Bank.
“I am honored to have been nominated for the Presidency of the European Central Bank. In light of this, and in consultation with the Ethics Committee of the IMF Executive Board, I have decided to temporarily relinquish my responsibilities as Managing Director of the IMF during the nomination period.”
The IMF’s Managing Director is both Chairperson of the Executive Board and Head of IMF staff. He or she is appointed by the Executive Board for a renewable term of five years. The Executive Board may select a Managing Director by a majority of votes cast. In the past, the Board has made such appointments by consensus.
National Unity Day: A tribute to Sardar Patel | Master Stroke
What all changed after J&K officially bifurcated into 2 UTs? | Master Stroke
Israeli spyware Pegasus snooped on Indian Journalists through Whatsapp | Master Stroke
Maharashtra: Shiv Sena's Sanjay Raut Meets Sharad Pawar
Drill displays IED diffused with the help of a robot by NSG
Article 370 only gave separatism and terrorism to J&K: PM Modi in Kevadiya
Let us work towards making India $5 trillion economy: Modi To Trainee Civil Servant | Full Speech
Radio Stations in Jammu, Srinagar and Leh renamed
Jammu and Kashmir to witness 'Acche Din'? | Seedha Sawal
Expert advice on how to survive poor air quality in Delhi-NCR