IMF managing director to resign

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IMF Managing Director Christine Lagarde will submit her resignation from the global financial lender on Tuesday, three sources familiar with her decision said.

Her resignation comes after Lagarde was nominated on July 2 to be the next head of the European Central Bank.

She did not immediately resign from the IMF because of uncertainty over whether the new European Parliament would approve her and other new EU leadership positions, the sources said.

Suzan O