IMF chief Christine Lagarde found guilty of negligence

A Paris court has convicted Christine Lagarde (pictured), International Monetary Fund (IMF) chief, of negligence over her handling of a multi-million-euro dispute during the time she was France’s finance minister almost 10 years ago.

According to the BBC, 60-year-old Lagarde was tried on charges of "negligence by a person in position of public authority". Explaining the verdict, Judge Martine Ract Madoux said that the "context of the global financial crisis in which Madame Lagarde found herself in should be taken into account", citing Lagarde's good reputation and international standing as reasons.

Despite the conviction, Lagarde will not face a fine or a prison term. She will also not have a criminal record. Both the IMF board (Lagarde was reappointed to a five-year term at the IMF in February) and the French government have affirmed their confidence in Lagarde and her leadership.

According to Lagarde's lawyer, she has not yet decided whether to appeal the sentence.