BREAKING IMF Board Retains "Full Confidence" in Lagarde After Court Finds Her Guility

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The International Monetary Fund’s executive board has reiterated its backing for IMF Director Christine Lagarde, indicating it supports for her despite her criminal conviction by a French court for negligence.

“The Executive Board reaffirms its full confidence in the Managing Director’s ability to continue to effectively carry out her duties,” according to an IMF statement sent via e-mail on Monday. “The Executive Board looks forward to continuing to work with the Managing Director to address the difficult challenges facing the global economy.”

She said she won’t appeal the court ruling and will continue to run the IMF.

(via Bloomberg)