Second investigation complicates Lagarde’s IMF quest

22/06/11 18:42 CET

economy

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There is more pressure on French Finance Minister Christine Lagarde – the leading candidate to head the International Monetary Fund.

Paris prosecutors are reportedly investigating two of her former subordinates over the awarding of a multi-million euro arbitration payment to Bernard Tapie, a businessman friend of President Nicholas Sarkozy.

This is a separate probe from the allegation that Lagarde abused her power over the same settlement.

This week Lagarde is being interviewed by the International Monetary Fund’s executive board for the managing director’s position on Wednesday and Thursday.

The other candidate, Mexican central bank governor Augustin Carstens, visited the fund on Monday and Tuesday for a series of interviews.

The IMF has said its executive board will meet on June 28 to discuss the strengths of the two candidates, with the aim of completing its selection by June 30.

More about: Christine Lagarde, IMF, Inquiry

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