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Christine Lagarde resigns as IMF chief, cites more clarity on ECB post

Wednesday, July 17, 2019, 8:38 AM

French politician Christine Lagarde on Tuesday said she will resign as the Managing Director of International Monetary Fund with effect from September 12. She has been nominated by the European Council as President of the European Central Bank. Her resignation has been accepted by the IMF Executive Board with effect from September-12. David Lipton remains the IMF Acting Managing Director in the interim period.
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Christine Lagarde To Resign As IMF Chief In September

Wednesday, July 17, 2019, 8:19 AM

Christine Lagarde will resign from the International Monetary Fund on September 12 as she awaits final word on her nomination to the presidency of the European Central Bank, she announced Tuesday. Her departure allows the IMF board to begin the search for her replacement. EU leaders early this month picked Lagarde to succeed ECB chief Mario Draghi, whose single, eight-year term ends in November.
 
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Pakistan Received $6.5 Billion Loan From China In July-April: Report

Friday, May 24, 2019, 7:36 AM

For the first-time Pakistan has disclosed that it has taken a total debt of $6.5 billion from China in the current financial year, which is equal to 75% of the total foreign loans of $8.6 billion the cash-strapped country received during the period. SAFE is an acronym for the State Administration of Foreign Exchange managed by the Chinese central bank.

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