Surprise as de Rato resigns from IMF

Rodrigo de Rato, the managing director of the International Monetary Fund, has announced that he would leave the Fund after its next meetings in October. This will be three years after his appointment and before the end of the normal five-year term.

The announcement came as a surprise and immediately sparked debate over the appointment of his successor. The position has been held by a European since the IMF was established in 1945. A similar debate began just weeks ago over the presidency of the

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