Christine Lagarde is the New European Central Bank President

• Christine Lagarde is the New European Central Bank President

Christine Lagarde, the former Managing Director of IMF, has been appointed by the European Union leaders as the new President of the European Central Bank.

Lagarde will now replace Mario Draghi from November 1, according to a short note published on her Linkedin page.

Outgoing President of the European Central Bank, Mario Draghi and incoming Christine Lagarde.

She said: “My sincere thanks to European leaders for appointing me as President of the European Central Bank from 1 November 2019. It is an honour to succeed Mario Draghi. I am looking forward to working with the ECB’s talented staff to keep euro area prices stable and banks safe.”

Lagarde resigned her position as the Managing Director of the International Monetary Fund (IMF) following a nomination to become the next president of the ECB in July.

“I am honored to have been nominated for the Presidency of the European Central Bank,” Lagarde stated in July 2019.

“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.”

Kristalina Georgieva replaced Christian Lagarde as the new Managing Director of the IMF.