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
Investigators will also need the other black box which records flight data, information that is essential for probing air accidents.
"It's going to take a new generation of courageous conservatives to help make America great again," Cruz said.
Netanyahu said he had already spoken to the leaders of other right-of-center parties about forming a new government "without delay".
"I've always said whatever comes out of these talks, we will want the same," said the prince, Saudi Arabia's former intelligence chief.
Partner news
Soghomon Tehlirian assassinated Talaat Pasha on March 15, 1921

Operation Nemesis was a covert operation by the Armenian Revolutionary Federation carried out from 1920 to 1922, during which a number of former Ottoman political and military figures were assassinated for their role in the Armenian Genocide.