WASHINGTON ((Sputnik) — Earlier in the day, a French court rejected Lagarde’s appeal in the corruption case, referring her to the Court of Justice of the Republic.
"The [IMF] Executive Board has been briefed on recent developments related to this matter, and continues to express its confidence in the Managing Director [Lagarde]’s ability to effectively carry out her duties," Rice stated.
Lagarde was put under investigation in August 2014 for authorizing the payment of a $434 million (403 million euro) out-of-court settlement to French mogul Bernard Tapie. At the time, Lagarde served as finance minister in the government of then-President Nicolas Sarkozy.
Lagarde has maintained that she acted within the confines of the law and in the interests of the state.
