In 2008 she told lawmakers that she had given instructions to back the decision on the payout and in that sense took responsibility for the contents.
But she later said that she did not “believe for a single moment that anybody had purposely orchestrated a generous arbitration.”
Lagarde herself avoided being formally charged last year. If she had been charged, she would likely have had to quit as head of the International Monetary Fund.
Instead, she was placed under a special witness status that forces her to come back for questioning when asked by the court — and leaves the door open for charges at a later date.
Richard was unrattled by the first encounter with Lagarde in court, a source close to him said.
“It’s the first time after his indictment that Stephane Richard can make Christine Lagarde face all the contradictions,” the source said.
Richard has consistently maintained that he was never in a position to take decisions by himself.
The IMF did not comment directly on the hearing but said its executive board “continues to express its confidence in the managing director’s ability to effectively carry out her duties”.
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