Lagarde to relinquish IMF duties during ECB nomination period

International Monetary Fund Managing Director Christine Lagarde said on Tuesday she is “honored” to be nominated for the European Central Bank presidency and will temporarily relinquish her IMF responsibilities during the nomination period, Reuters reported.

In a statement issued by the IMF, Lagarde said the decision to step back from her IMF duties was made in consultation with the IMF executive board’s ethics committee.

I am honored to have been nominated for the @ECB Presidency. 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 IMF Managing Director during the nomination period.

— Christine Lagarde (@Lagarde) July 2, 2019