We’ll meet shortly to consider Lagarde’s fate, says IMF

The International Monetary Fund (IMF) says it will be meeting shortly to consider the fate of its managing director, Christine Lagarde, who was convicted in France on Monday.

In a statement emailed to TheCable, Gerry Rice, director of communications at the International Monetary Fund (IMF), said the board of the fund had met to consider the case against Lagarde and would do so again with the most recent conviction.

“The executive board has met on previous occasions to consider developments related to the legal proceedings in France,” Rice said. “It is expected that the board will meet again shortly to consider the most recent developments.”

Despite the eight-year old allegation of negligence in the misuse of public funds, Lagarde was reelected head of the fund in February 2016.

Lagarde, who is in her sixth year as the managing director of the organisation, hasd been expected to resign, following the allegations of misdeeds in public finance.

Experts say the global financial institution may not ask her to step down.

Lagarde is one of the most powerful women on earth.