IMF backs Lagarde despite investigation in corruption charges
International Monetary Fund is completely backing the head of the organization Christine Lagarde in spite of 'negligence' charges against her by French authorities.
Lagarde has been charged for 'negligence' in her role as finance minister under French president Nicolas Sarkozy's government in awarding compensation to a business tycoon Bernard Tapie who allegedly had political contacts.
IMF executive board that appoints the chief said in a statement that Lagarde could still continue to lead the organization, reported the BBC.
IMF showed complete confidence in the capabilities of the leader and refrained from commenting on the investigation issue.
Lagarde said that the case against her was 'without merit'.
(Posted on 30-08-2014)