Padoa-Schioppa resigns from IMF role

Tomasso Padoa-Schioppa quit on Friday as chairman of its International Monetary and Final Committee.

The resignation, made as Padoa-Schioppa stepped down as the Italian finance minister following Silvio Berlusconi's election win, is effective immediately, the Fund said.

Padoa-Schioppa, who took up the position less than a year ago in October 2007, was originally expected to remain at the Fund up until 2010.

"Though his tenure as Chairman may have been brief, he played an invaluable role in wo