Christine Lagarde (photo) is officially stepping down as the Managing Director of the International Monetary Fund IMF next September 12, the Executive Board said on July 16.
This announcement comes when Ms. Largarde, 63, was nominated early this month as the head of the European Central Bank (ECB) and is expected to take office in November. For the time being, David Lipton, the Fund’s First Deputy Managing Director, is acting as MD.
Re-elected in 2016 as head of the Bretton Woods Institution, Christine Lagarde became the first woman to hold this position in 2011, interim periods excluded, after the scandal that led former MD, Dominique Strauss-Kahn, to resign.
“The Fund has excelled in serving its entire membership over the course of her tenure with cutting-edge policy advice supported by ground-breaking analytical work on a range of macro-critical issues. Her stewardship has been exceptional, and we are grateful for her innovative and visionary leadership,” the IMF statement said.
No details have been provided on her potential successor, but the Board says it “will initiate promptly the process of selecting the next Managing Director and will communicate in a timely fashion.”
Moutiou Adjibi Nourou
Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
AJN Resources moves deeper into African gold with deal for 55% of DRC’s Giro project Acquisition adds Kebigada and Douze Match deposits as gold...
Proparco lends $23 million to Sonoco to build a 600-ton/day flour mill in Freetown Project aims to cut flour imports and supply regional...
Move follows delays, stalled investment decision and BP’s earlier withdrawal Government prioritizes domestic gas supply while keeping option for...
Galp and TotalEnergies strike asset-swap deal giving TotalEnergies control of Namibia’s Mopane find Galp gains stakes in Venus and PEL 91 as firms...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...