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Managing Director of the International Monetary Fund Christine Lagarde filed a resignation in connection with the appointment of the next head of the European Central Bank, Reuters reported

Lagarde said that her resignation will take effect on September 12, opening the way for the IMF to choose its next leader. She said her resignation would speed up the selection of her successor.

The resignation of Lagarde occurred two weeks after her appointment on July 2 to the highest position in the ECB. She did not immediately resign from the IMF because of uncertainty about whether the European Parliament would approve her candidacy.

The second five-year term of office of Lagarde as the managing director of the IMF was to end only in July 2021.

 Traditionally this post has always been held by a European.

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