The International Monetary Fund board is expected to meet shortly to discuss the implications of the guilty verdict against IMF chief Christine Lagarde in a French court, a spokesman for the organisation said Monday. “The Executive Board has met on previous occasions to consider developments related to the legal proceedings in France. It is expected that the Board will meet again shortly to consider the most recent developments,” fund spokesman Gerry Rice said in a statement. A source confirmed to AFP the board meeting will take place on Monday, after a French court found Lagarde guilty of negligence over a massive payout to a tycoon while she was finance minister, but she will not be fined or face prison. Lagarde was put on trial over her 2007 decision to allow a dispute over sale of the Adidas sports brand to the state-owned Credit Lyonnais bank to be resolved by a private arbitration panel, and then failing to challenge the result. The court cleared her of negligence over her d...
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