The International Monetary Fund has expressed confidence in its leader Christine Lagarde, despite her being investigated for negligence in France. Ms. Lagarde has been questioned about her role in awarding compensation to businessman Bernard Tapie in 2008. Ms. Lagarde was France's Finance Minister at the time of the award. In a statement, the IMF executive board said it was confident Ms Lagarde could continue to lead the organisation. Ms Lagarde was placed under formal investigation by the French authorities on Wednesday. She described the case against her as without merit.