Christine Lagarde resigns as managing director of IMF

International Monetary Fund, IMF managing director Christine Lagarde has resigned ahead of a decision on her nomination to become head of the European Central Bank, ECB.

Her resignation has been accepted by the IMF Executive Board, which will come into effect from 12



September. 

If the European Council approves Ms Lagarde's ECB nomination, she will become the central bank's first-ever female leader, responsible for the Euro and the monetary policy of the eurozone.

The former French cabinet minister has been heading the IMF since 2011.