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IMF’s Lagarde Guilty of Negligence

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International Monetary Fund chief Christine Lagarde was convicted of negligence by a Paris court over her handling of a multimillion-euro dispute during her time as France’s finance minister nearly a decade ago.

The 60-year-old managing director of the IMF won’t face a fine or prison term, Judge Martine Ract-Madoux said Monday. The judges on the Cour de Justice de la Republique said that Lagarde should have done more to overturn a 285 million-euro ($300 million) payout to a businessman in an arbitration case.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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