IMF chief faces trial in 400million-euro payout case

‘A French court judging ministers for crimes in office has ordered the managing director of the International Monetary Fund (IMF), Christine Lagarde, to stand trial over her alleged role in a payout case involving hundreds of millions of euros.

“IMF chief Lagarde is to stand trial over 400-million-euro ($434m) arbitration ruling,” a spokesman for Cour de justice de la Republique said on Thursday.

Local media in France say Lagarde, 59, was instrumental during her tenure as finance minister in the government of former President Nicolas Sarkozy in awarding the controversial sum as damages to Bernard Tapie, a backer of Sarkozy in the 2007 presidential election.’

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