Christine Lagarde, who has been nominated for the position of the president of the European Central Bank, decided to temporarily relinquish her duties as the IMF managing director.
Washington: American economist David Lipton will serve as interim leader of the International Monetary Fund, replacing Christine Lagarde who was nominated to head the European Central Bank, the IMF board announced Tuesday.
"We accept Ms Lagarde's decision to relinquish her IMF responsibilities temporarily during the nomination period," the board said.
"We have full confidence in First Deputy Managing Director David Lipton as Acting Managing Director of the IMF."
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