The Managing Director of the International Monetary Fund, Christine Lagarde will be stepping down on 12 September.
It comes ahead of a decision on her nomination to become head of the European Central Bank.
Miss Lagarde said the decision to resign is in the best interest of the IMF.
If the European Council approves her Central Bank nomination, she will become the central bank’s first ever female leader, responsible for the euro and the monetary policy of the eurozone.
