IMF's Lagarde to Resign September 12th

Washington DC - The head of the International Monetary Fund, Christine Lagarde, announced Tuesday that she will resign on September 12th. Lagarde was nominated to lead the European Central Bank earlier this month.

Eric LeCompte the Executive Director of the religious development group Jubilee USA, releases the following statement:

"Lagarde moved forward new focuses on gender and inequality at the International Monetary Fund.

"After the Greek crisis, we saw her lead shifts in thinking on the problems with austerity, although we didn't see enough changes in austerity policies at the IMF.

"Now that Lagarde is moving on, there are growing calls for the new head of the IMF to be selected based on the merits of the nominee as opposed to whether or not the person is born in Europe."