IMF: Lagarde successor may emerge October 4

September 7, 2019
75 Views

The Executive Board of the International Monetary Fund (IMF) has removed age limit for the position of Managing Director.

A statement by IMF also announced that nominations for the position closed Friday, September 6 while selection process will be concluded on October 4.

It said: “Since 1951, the IMF’s By-Laws had prohibited the appointment of a candidate aged 65 or over as Managing Director, and had also prohibited the Managing Director from serving past his/her 70th birthday.

“The amendment to the By-Laws adopted by the Board of Governors, which is effective immediately, brings the Managing Director’s terms of appointment into line with those of members of the IMF Executive Board, which the Managing Director chairs, and those of the President of the World Bank Group, who are not subject to an age limit.

“The IMF Executive Board is engaged in the selection of a successor to outgoing Managing Director Christine Lagarde, who will step down on September 12.”

You may be interested

News

Heartbreaking Moment A Nigerian Man Cries For Help As He’s Mercilessly Tortured After His Relative Left Him With Drug Lords As Collateral

Webby - July 7, 2020

Heartbreaking Moment A Nigerian Man Cries For Help As He's Mercilessly Tortured  After His Relative Left Him With Drug Lords…

Terrifying Moment Black Man Almost Got Killed After He Was Attacked By White Racists In Indiana (Video)
News
News

Terrifying Moment Black Man Almost Got Killed After He Was Attacked By White Racists In Indiana (Video)

Webby - July 7, 2020

 Booker was attacked by a group of white racists A group of white men in Indiana, United States of America…

Man Stranded In Philippines Airport For 110 Days Due To Coronavirus Lockdown (Photos)
News
News

Man Stranded In Philippines Airport For 110 Days Due To Coronavirus Lockdown (Photos)

Webby - July 7, 2020

Roman Trofimov A tourist, Roman Trofimov, is desperate to be rescued after spending 110 days living in an airport in…

Leave a Comment

Your email address will not be published.