Lagarde "temporarily relinquishes responsibilities" as IMF chief

00:50, 03 July 2019
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"I am honored to have been nominated for the Presidency of the European Central Bank. 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 Managing Director of the IMF during the nomination period," she said in a statement on July 2.

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IMF First Deputy Managing Director David Lipton will perform the IMF Managing Director's responsibilities.

Lagarde was appointed IMF chief in 2011 to succeed Dominique Strauss-Kahn upon his resignation after he had been accused of sexual assault.

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