IMF gives backing to embattled boss

Christine LagardThe IMF is reiterating its confidence in managing director Christine Lagarde's leadership after a French court stopped just short of charging her in an investigation of a pay-off to a businessman.

Ms Lagarde was questioned at length for two days last week in the French hearings, which concluded by naming her a key witness in the probe of the pay-off arranged while she was France's finance minister.

She could still be charged in the case at a later date.

The IMF said that its executive board has been briefed on the outcome of the recent hearings in France.
The board "has reaffirmed its confidence in the managing director's ability to effectively carry out her duties".