IMF board reaffirms confidence in Christine Lagarde after negligence verdict

Washington: The International Monetary Fund said on Monday its executive board reaffirmed its full confidence in Managing Director Christine Lagarde despite her conviction by a French court on a negligence charge.

"The Executive Board took all relevant factors into account in its discussions, including the Managing Director`s outstanding leadership of the Fund and the wide respect and trust for her leadership globally," the executive board said in a statement.

"In this context, the Executive Board reaffirms its full confidence in the Managing Director`s ability to continue to effectively carry out her duties."