IMF Board States Confidence in Lagarde Following Order to Stand Trial

© AFP 2023 / MANDEL NGANThe seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015
The seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015 - Sputnik International
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The International Monetary Fund executive board expressed its confidence in Managing Director Christine Lagarde’s abilities to carry out her duties following the announcement that the IMF chief must stand trial over a multimillion-euro payout scheme, IMF Communications Director Gerry Rice said in a statement on Friday.

WASHINGTON ((Sputnik) — Earlier in the day, a French court rejected Lagarde’s appeal in the corruption case, referring her to the Court of Justice of the Republic.

"The [IMF] Executive Board has been briefed on recent developments related to this matter, and continues to express its confidence in the Managing Director [Lagarde]’s ability to effectively carry out her duties," Rice stated.

IMF Managing Director Christine Lagarde arrives for the IMFC Plenary Session during the IMF and World Bank Group 2016 Spring Meetings on April 16, 2016 in Washington, DC - Sputnik International
IMF Chief Lagarde Will Have to Stand Trial in Tapie Case
Rice explained that the IMF will not comment on the case as it is currently before the French judiciary, but it will continue to be briefed on developments.

Lagarde was put under investigation in August 2014 for authorizing the payment of a $434 million (403 million euro) out-of-court settlement to French mogul Bernard Tapie. At the time, Lagarde served as finance minister in the government of then-President Nicolas Sarkozy.

Lagarde has maintained that she acted within the confines of the law and in the interests of the state.

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