The International Monetary Fund (IMF) Expresses Confidence in Leader Christine Lagarde

The board of the IMF expressed its confidence in Managing Director Christine Lagarde after the launch of a French inquiry into alleged abuses of power.

Ms. Lagarde took over the IMF in 2011 and her office denies any wrongdoing.

In 2007, Lagarde was involved in a dispute with French businessman Bernard Tapie and the bank Credit Lyonnais.

The IMF is no stranger to scandal – former IMF Chief Dominique Strauss-Kahn resigned less than two years ago after becoming embroiled in a nasty incident in which it was alleged that he attempted to rape a hotel maid while on business in New York City.

Currently the IMF is deeply engaged with managing the euro zone crisis, particularly the banking emergency in Cyprus.