on Monday, the former French minister of the economy has been found guilty of “negligence” for its role in arbitration made in 2008 in favour of Bernard Tapie in his dispute with Credit Lyonnais.
Despite its negligence guilty, Christine Lagarde managed to maintain at the head of the international monetary Fund, even if his position may be weakened within an institution, very riding on his reputation since the scandal Strauss-Kahn.
Together emergency Monday afternoon in Washington, the IMF’s executive board, the management body that represents its 189 member States, has brought to Monday, December 19, a net support, expressing ” full confidence “ in its ability to perform its functions ” effective “, and praising his ” outstanding leadership “.
convicted for his role in a politico-financial scandal of 2008, the former French minister of Economy had no immunity and could, theoretically be destitute by this same board of directors who was appointed in 2011 and has been renewed unanimously in July for a second mandate of 5 years.
But she was able to rely once again on the main member States of the institution, who have invariably lent their support throughout a procedure winding of more than five years.
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” Fantastic leadership “
In fact, Mme Lagarde enjoys a high popularity rating within the IMF, of which she took the reins after the forced resignation of Dominique Strauss-Kahn in 2011, accused of sexual assault in a new york hotel.
Offering the face a more consensual a woman’s sport and is a vegetarian, she was able to silence the doubters by opening up more to the IMF to emerging countries and new themes (social inequalities, climate change…).
” She has done a very good job on the image of the IMF as an institution, providing a voice for the chapter, getting involved in the european crisis and, more generally, preserving the usefulness of the IMF “, ensures Desmond Lachman, a former executive of the institution.
on Monday, the French government, however, a board policy different from his own, he has very quickly made ” all her confidence “ after the judgement of Paris, believing that it ensured his tenure at the IMF ” success “.
the Initial shareholders of the IMF, the United States has also paid tribute to ” ruling sound “. the ” We have every confidence in his ability to guide the Fund in a crucial time for the global economy “, has pointed to the us secretary of the Treasury Jacob Lew.
Read also : Case Tapie : why Christine Lagarde has she been sentenced ?
Reputation and credibility
other more political reasons may have led the great powers prefer the status quo at the head of an institution involved in difficult rescue plans financial in Greece, Ukraine, Egypt or Iraq.
a month ago of the arrival of Donald Trump at the White House, few diplomats seem ready to cause a revolution of the palace at the IMF and to give the chance to the next american administration to place one of his own at the head of the institution.
Despite these marks supported by a support, this new incident may tarnish the image of an institution that demands the utmost discipline States that it replenish, but seems to be a victim of a curse with its directors-general.
The predecessor of Mr. Strauss-Kahn to head the IMF, the Spanish Rodrigo Rato, is currently being prosecuted in Spain for embezzlement of funds when he was a banker. the ” there is very clearly a question of credibility for the IMF, “, provides Mr. Lachman.
The IMF did not really need it, which is often accused of imposing cures drastic austerity, and that is often lampooned in Athens or in South America. According to Peter Doyle, a former IMF managing director who has slammed the door in 2014, this succession of scandals must lead to ” to adopt a rigorous process “ to refer to the head of the IMF.
under a rule unwritten, the Europeans nominate the head of the IMF while the Americans reserve the presidency of the world Bank.