Lagarde found guilty

Lagarde found guilty A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment.

As French finance minister in 2008, she approved an award of 404 million euro to businessman Bernard Tapie for the disputed sale of a firm.

Lagarde, who always denied wrongdoing, was not present in court, having left Paris for Washington DC.

The IMF board said it retained full confidence in her leadership.

She said she would not appeal against the ruling: "There's a point in time when one has to just stop, turn the page and move on and continue to work with those who have put their trust in me."

BBC