IMF: Lagarde successor may emerge October 4

September 7, 2019
41 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

Kogi Guber: PDP Cautions INEC, Yahaya Bello… Says Violence Cannot Save A Sinking Governor
News
24 views
News
24 views

Kogi Guber: PDP Cautions INEC, Yahaya Bello… Says Violence Cannot Save A Sinking Governor

Webby - September 19, 2019

The Peoples Democratic Party (PDP) cautions the Independent National Electoral Commission (INEC) not to attempt to use its extrapolations on…

Buhari Departs For UN Summit In New York, To Speak On Poverty Eradication, Quality Education
News
27 views
News
27 views

Buhari Departs For UN Summit In New York, To Speak On Poverty Eradication, Quality Education

Webby - September 19, 2019

President Muhammadu Buhari will leave Abuja on Sunday for New York, United States to take part in the 74th Session…

11-Year-Old Nigerian Artist, Kareem Beats 2,723 Candidates To Win Top Taiwanese Award
News
20 views
News
20 views

11-Year-Old Nigerian Artist, Kareem Beats 2,723 Candidates To Win Top Taiwanese Award

Webby - September 19, 2019

11-year-old Nigerian hyper-realism artist, Kareem Waris Olamilekan, has emerged the recipient of the Taiwan’s Chou Ta-Kuan Cultural and Educational Foundation‘s…

Leave a Comment

Your email address will not be published.