Tuesday, May 26, 2015Tuesday, May 26, 2015

IMF board expresses confidence in Christine Lagarde amid graft scandal

Published on Aug 30, 2014 4:59 AM
IMF chief Christine Lagarde poses on the sideline of a press conference on August 27, 2014 at her lawyer's office in Paris, after announcing she had been charged for "negligence" over a multi-million-euro corruption case relating to her time as French finance minister in 2008. The case relates to her handling of a 400-million-euro state payout to disgraced French tycoon Bernard Tapie in 2008. -- PHOTO: AFP

WASHINGTON (AFP) - The board of the International Monetary Fund reiterated its support for managing director Christine Lagarde on Friday, after a French court placed her under formal investigation in a graft scandal.

"As we have said before, it would not be appropriate to comment on a case that has been and is currently before the French judiciary," it said in a statement.

"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."

A Paris court placed Lagarde under formal investigation earlier this week for alleged "negligence" in a 2008 graft case dating back to when she was a French finance minister.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!