The Court convicts with no penalty and the IMF Board Supports her!
Christine Lagarde looked to be safe in her role as the International Monetary Fund’s managing director on Monday night after its board gave her its backing, just hours after she was convicted of “negligence” over a huge payout to a business tycoon while she was French finance minister.
The IMF board praised the “wide respect and trust” for Mrs Lagarde’s leadership as it expressed its “full confidence” in her ability to continue in the role at the upper echelons of international finance.
France’s Court of Justice of the Republic, a special tribunal for ministers, earlier chose not to punish Mrs Lagarde or give her a criminal record. She had faced a one-year term and a €15,000 (£13,000) fine, threatening to derail her career.