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After months of proceedings, a French court has found the International Monetary Fund, IMF, Chief Christine Lagarde guilty of negligence in office.
The court however, did not pronounce any judgement on the said offence.
Lagarde who in 2008 was a French finance minister, was said to have approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm.
She was not available during the court session.
With this new development, it is expected that the board of the IMF will decide whether or not to retain Lagarde as the bank’s Chief.
The French government has however expressed a vote of confidence in Lagarde.
Lagarde, 60, was tried on charges of “negligence by a person in position of public authority”.
Lagarde had on Friday told the trial she had always acted in good faith and the suspicion she had lived under for the past five years had been an “ordeal”.