WASHINGTON (dpa-AFX) - The International Monetary Fund's executive board has reaffirmed its 'full confidence' in IMF Managing Director Christine Lagarde despite she being found guilty of negligence for improperly overseeing a 2008 case when she was France's finance minister.
'The Executive Board met today to consider recent developments in the legal proceedings in France involving Managing Director Christine Lagarde. The Executive Board took all relevant factors into account in its discussions, including the Managing Director's outstanding leadership of the Fund and the wide respect and trust for her leadership globally,' the International Monetary Fund said in a statement.
'In this context, the Executive Board reaffirms its full confidence in the Managing Director's ability to continue to effectively carry out her duties.'
A French court found Lagarde guilty of negligence while she was French finance minister in 2008 when she approved an award of 404 million euros to businessman Bernard Tapie for the disputed sale of a firm. However, the court did not hand down any punishment.
Lagarde, who always denied of any wrongdoing, said she would not appeal against the ruling. 'There's a point in time when one has to just stop, turn the page and move on and continue to work with those who have put their trust in me.'
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