The head of the European Central Bank announces her departure

Costa announced that the process for selecting Lagarde's successor will begin immediately, allowing the European Council to make a timely decision. Lagarde has been mentioned as a potential candidate for the French presidency but has not confirmed her intentions. She has led the ECB since 2019, and Costa praised her leadership during challenging times, highlighting her contributions amid the Covid-19 pandemic and economic crises. Lagarde's resignation before the end of her term will enable her to engage in the presidential campaign, with the first round of elections scheduled for April 18. She has extensive experience in government and international organizations, previously serving as France's finance minister and head of the IMF.