Christine Lagarde resigns as Managing Director Of IMF

Managing Director of the International Monetary Fund Christine Lagarde has resigned from her duties.

In a statement, IMF Executive Board said it has accepted the resignation of Lagarde and expressed its "greatest appreciation" for what she did for the institution.

Christine Lagarde took this decision after her nomination to become head of the European Central Bank. 

She will leave her office with effect from September 12.