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IMF chief Christine Lagarde escapes formal investigation


France

IMF chief Christine Lagarde escapes formal investigation

French magistrates decided on Friday not to place IMF chief Christine Lagarde under formal investigation over her role in a 285 million euros arbitration payment made to a supporter of former president Nicolas Sarkozy.

Lagarde was instead given the status of a “supervised witness”, after she was questioned on her 2008 decision as Sarkozy’s finance minister to use arbitration to settle a court battle between the state and businessman Bernard Tapie.

“My explanations answered questions raised about the decisions that I had made at the time,” Lagarde told reporters outside the Paris court. “My status as a supervised witness is not a surprise for me because I always acted in the interest of the state and according to the law.”

REUTERS

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