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28 May 2013
00:03:08
IMF says 'No Comments'' for french hearing about Christine Lagarde, but express confidence in Lagarde's abilities to head IMF
> Lagarde, 57, appears in front of special tribunal of judges in Paris
> Widely expected to be charged with fraud and embezzlement
> Relates to 270 million pounds payout to Bernard Tapie when she was finance minister
> Government minister Najat Vallaud-Belkacem says she will be asked to quit if placed under investigation by Court of Justice of the Republic
> Denies any wrongdoing and lawyer said she expects case to be dismissed
IMF Executive Board Statement on Managing Director Christine Lagarde
May 20, 2013 (SLBO) - The Executive Board of the International Monetary Fund (IMF) today issued the following statement regarding the Managing Director Christine Lagarde's hearing in France last week:
"As we have said before, it would not be appropriate to comment on a case that has been and is currently before the French judiciary. However, the Executive Board has been briefed on this matter, including on the outcome of the recent hearings before the Court of Justice of the Republic in Paris, and has reaffirmed its confidence in the Managing Director's ability to effectively carry out her duties."
Christine Lagarde, Managing Director of the International Monetary Fund, wound up more than 25 hours of interrogation Friday night without any accusation being leveled against her for a contested decision to accept arbitration in a multimillion-dollar business case in 2008, during her tenure as France's finance minister.
Lagarde, who announced the outcome of the proceedings herself, said she was not surprised that judicial authorities decided to retain her as a witness but not to name her as a suspect. "I have always acted in accordance with the interest of the state and in conformity with the law," she declared.
The judicial step came after two days of intense interrogation by investigating magistrates of the Court of Justice of the Republic, which handles malfeasance cases in France. It signified that the magistrates concluded they do not have credible evidence suggesting Lagarde violated the law when she agreed to have an arbitration panel settle a dispute between the Credit Lyonnais bank and Bernard Tapie, a flamboyant French businessman.
> Widely expected to be charged with fraud and embezzlement
> Relates to 270 million pounds payout to Bernard Tapie when she was finance minister
> Government minister Najat Vallaud-Belkacem says she will be asked to quit if placed under investigation by Court of Justice of the Republic
> Denies any wrongdoing and lawyer said she expects case to be dismissed
IMF Executive Board Statement on Managing Director Christine Lagarde
May 20, 2013 (SLBO) - The Executive Board of the International Monetary Fund (IMF) today issued the following statement regarding the Managing Director Christine Lagarde's hearing in France last week:
"As we have said before, it would not be appropriate to comment on a case that has been and is currently before the French judiciary. However, the Executive Board has been briefed on this matter, including on the outcome of the recent hearings before the Court of Justice of the Republic in Paris, and has reaffirmed its confidence in the Managing Director's ability to effectively carry out her duties."
Christine Lagarde, Managing Director of the International Monetary Fund, wound up more than 25 hours of interrogation Friday night without any accusation being leveled against her for a contested decision to accept arbitration in a multimillion-dollar business case in 2008, during her tenure as France's finance minister.
Lagarde, who announced the outcome of the proceedings herself, said she was not surprised that judicial authorities decided to retain her as a witness but not to name her as a suspect. "I have always acted in accordance with the interest of the state and in conformity with the law," she declared.
The judicial step came after two days of intense interrogation by investigating magistrates of the Court of Justice of the Republic, which handles malfeasance cases in France. It signified that the magistrates concluded they do not have credible evidence suggesting Lagarde violated the law when she agreed to have an arbitration panel settle a dispute between the Credit Lyonnais bank and Bernard Tapie, a flamboyant French businessman.
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