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Business Briefing: I.M.F. Board Backs Chief, Under Investigation in France

Posted by Unknown on Friday, August 29, 2014


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International Business |I.M.F. Board Backs Chief, Under Investigation in France



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International Business | Business Briefing






The International Monetary Fund’s board on Friday stood behind the global lender’s leader, Christine Lagarde, who is facing a criminal investigation in France tied to a political corruption inquiry dating from 2008. French magistrates earlier this week put Ms. Lagarde under formal investigation for “negligence” after questioning her in Paris for a fourth time. The long-running investigation concerns allegations that the tycoon Bernard Tapie won a large arbitration payout because of political connections when Ms. Lagarde was French finance minister. “The executive board has been briefed on recent developments related to this matter and continues to express its confidence in the managing director’s ability to effectively carry out her duties,” the board said in a statement. The 24-member board also considered the case’s implications when it decided to hire her in 2011.



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