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IMF board still confident in Lagarde as managing director

Xinhua, December 20, 2016 Adjust font size:

The executive board of the International Monetary Fund (IMF) said on Monday it remains confident in Chiristine Lagarde as the institution's managing director despite her legal proceedings in France.

Considering her outstanding leadership in IMF and the wide respect and trust for her leadership globally, "the executive board reaffirms its full confidence in the Managing Director's ability to continue to effectively carry out her duties," said the IMF in a statement.

A French court on Monday found Lagarde guilty of negligence over a massive payout to the tycoon Bernard Tapie in 2008 during her time as French finance minister, but imposed no penalty.

Lagarde on Monday said at a press briefing that she was not satisfied with the court decision, but will not appeal it.

Lagarde was reappointed as IMF chief in February, despite the ongoing legal troubles. She took over as head of the IMF in 2011 after Dominique Strauss-Kahn resigned.

She is the first woman to lead the IMF. Endi