Christine Lagarde IMF under close scrutiny

The International Monetary Fund (IMF) board members will be meeting to discuss the probable partiality emitted by Managing Director Christine Lagarde in a court decision.   Lagarde who at that time was the French Finance Minister under ex-President Sarkozy government, can be dismissed from her current post if ever a consistency and credibility is found in the charges against her.   This case has been ongoing since 3 years and has many political implications. This is a serious accusation against IMF’s Managing Director as she was earlier only defined as being an ‘assisted witness’ in this case.   The IMF has previously been dethroned after the Domique Strauss-Kahn episode and took quite some time to assimilate integrity among stakeholders.   This issue with Lagarde puts into question her ethics and her managerial skills. Christine Lagarde on her side has maintained her innocence claiming that she is not implicated in any wrong-doings and has not faltered in her duties.   Such negligence could also cost Lagarde a £11,900 fine and a one-year prison term. This accusation implicates business tycoon Bernard Tapie who after commercial dispute with taxpayers managed to get €400m soliciting the French opposition’s appeal for transparency in this matter.   Mr Tapie had supported president Sarkozy in the 2007 presidential election thereby inciting curiosity over his bailout. Source: Bloomberg The Guardian
Priscilla Camryn By: Priscilla Camryn
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