Christine Lagarde, the managing director
of the International Monetary Fund (IMF), was found guilty yesterday of
criminal charges linked to the misuse of public funds during her time
as France’s finance minister, a verdict that could force her out of her
post, reported the New York Times.
Ms. Lagarde, who began her second
five-year term at the IMF in February, faces a fine of up to 15,000
euros, or $15,700, and up to one year in jail.
The scandal has overshadowed her work at
the fund, to which she was appointed in 2011, after Dominique
Strauss-Kahn resigned as managing director when he was accused of having
sexually assaulted a maid in a New York City hotel.
The move is likely to destabilise the
IMF while it faces a host of thorny issues, including questions over its
participation in a multibillion-dollar bailout for Greece and
uncertainty about the United States’ role in the organisation once
Donald J. Trump becomes president in January.
The IMF board had also been preparing
for a possible conviction with people close to major shareholders,
saying that in the absence of a prison term — and with continuing
support from the French government — Ms Lagarde would probably be able
to stay in her position.
The IMF said in a statement after the
verdict that the board, which has met previously to consider the case,
was expected to “meet again shortly to consider the most recent
developments”.
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