IMF says has confidence in Lagarde despite abuse of power probe

IMF says has confidence in Lagarde despite abuse of power probe

PanARMENIAN.Net - The International Monetary Fund (IMF) has said it continues to have "confidence" in its managing director Christine Lagarde, BBC News reported.

An IMF spokesman said the fund's board backed Lagarde despite a French inquiry into alleged abuses of power. The probe relates to her time as French finance minister and her involvement in the payment of compensation to businessman Bernard Tapie.

Lagarde, who took over as IMF chief in 2011, denies any wrongdoing. Her Paris apartment was searched by police investigators last week.

"The executive board has been briefed on this matter, including recently, and continues to express its confidence in the managing director's ability to effectively carry out her duties," said IMF spokesman Gerry Rice at a press conference on Thursday, March 28.

 Top stories
Tsarnaev is likely to be moved to a federal prison in Terre Haute, Indiana, to await execution, but there could be years of appeals.
The measures are also expected to introduce banning orders for extremist organizations who use hate speech in public places.
The U.S. State Department offered up to $7mln for information on Qaduli whom it described as a senior IS official.
So far 18 people have also been confirmed dead in an avalanche that swept through the Mount Everest base camp.
Partner news