Despite Conviction, IMF Says, Lagarde Will Continue As MD

[caption id="attachment_14838" align="alignnone" width="699"] Ms. Christine Lagarde, IMF Boss[/caption]

The question as to whether the Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde, will step aside over her conviction by a French Court on Monday has been laid to rest as the executive board of the world body says she will continue with her “outstanding leadership.”

A French Court had convicted Ms. Lagarde of negligence in the misuse of public funds, but after the IMF board reviewed her situation, it expressed its “full confidence” in her work.

“The Executive Board met today to consider recent developments in the legal proceedings in France involving Managing Director Christine Lagarde,” the board said in a mailed statement.

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“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.|

“In this context, the Executive Board reaffirms its full confidence in the Managing Director’s ability to continue to effectively carry out her duties.

“Under the Fund’s governance framework, the Managing Director is appointed by the Executive Board and performs her duties under the Board’s direction.

“In the exercise of its oversight responsibilities, the Executive Board has met regularly, since the Managing Director’s appointment in 2011, to consider whether developments in the legal proceedings in France relating to the Managing Director have affected her ability to lead the Fund.

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“The Executive Board looks forward to continuing to work with the Managing Director to address the difficult challenges facing the global economy.”

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