IMF Board Backs Lagarde Following Conviction for Negligence

By Andrew Mayeda, Bloomberg News

The International Monetary Fund’s executive board reiterated its backing for Christine Lagarde, indicating support for her to remain managing director of the lender despite being convicted of negligence by a French court.

“The Executive Board reaffirms its full confidence in the Managing Director’s ability to continue to effectively carry out her duties,” according to an IMF statement sent via e-mail on Monday. “The Executive Board looks forward to continuing to work with the Managing Director to address the difficult challenges facing the global economy.”

Lagarde was convicted of negligence earlier Monday for failing to overturn ...