Finance

Lagarde’s Future at IMF Uncertain After Guilty Verdict in French Court

International Monetary Fund Managing Director Christine Lagarde’s future at the Washington-based institution is uncertain after a French court on Monday convicted her of negligence related to a scandal that occurred when she was the country’s finance minister in the late-2000s.

Lagarde was convicted of failure to officially contest a government payment to a French businessmen totaling $422 million, according to Agence France-Presse, which also reported that the Paris-based court opted against requiring jail time or penalizing Lagarde with a fine.

Still, her future as head of the IMF is up in the air. In a statement released on Monday, IMF spokesman Gerry Rice said the organization’s executive board will “meet again shortly to consider the most recent developments.”

In a July statement, Rice said the board “continues to express its confidence in the managing director’s ability to effectively carry out her duties.”