Chip Somodevilla/Getty Images(PARIS) — The International Monetary Fund is standing by its managing director, Christine Lagarde, after she was found guilty of negligence by a French court.
The IMF said in a statement Monday that its executive board “reaffirms its full confidence in the Managing Direcotr’s ability to continue to effectively carry out her duties.”
Lagarde, 60, was charged with misusing public funds while she was France’s minister of finance in 2008 when she approved an award of 400 million euros to business tycoon Bernard Tapie. The court said she had been negligent in not contesting the decision.
The IMF chief will not face any punishment for the charges of “negligence by a person in position of public authority.”
Lagarde will not appeal the ruling, according to BBC.
“There’s a point in time when one has to just stop, turn the page and move on and continue to work with those who have put their trust in me,” she said according to BBC.
Lagarde became the first woman ever in charge of economic policy in France when she was named the country’s minister of finance in 2007. She was also the first woman to be elected to head the IMF.
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