IMF chief Christine Lagarde goes on trial in France on Monday over a massive state payout to a flamboyant tycoon when she was finance minister in a case that risks tarnishing her stellar career.

Lagarde denies the charges of negligence, arguing she was acting “in the state’s interest” in making the payment to Bernard Tapie, the former owner of sportswear giant Adidas and Olympique Marseille football club.

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Ukrainian anti-corruption efforts are falling short because of political opposition to clean up years of post-Soviet misdeeds, the International Monetary Fund said.

The Washington-based lender urged the eastern European nation to show progress in fighting graft and pushing through other reforms, including sales of state assets and a revamp of the pension system, to keep cash from its $17.5 billion bailout loan flowing. Managing Director Christine Lagarde has warned in the past that financing could be cut off if sufficient headway isn’t made.

Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – IMF Sees Ukrainian Politicians Curbing Anti-Corruption Efforts

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International Monetary Fund Managing Director Christine Lagarde called this week’s addition of the yuan to the lender’s basket of elite currencies a “historic milestone” while urging China to keep opening up and improving its financial system to help both its own economy and the world’s.

Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – Lagarde Urges China to Deepen Reforms as Yuan Joins Elite Group

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World leaders need to better manage the frustration over the failure of globalization to deliver widely shared benefits, IMF Managing Director Christine Lagarde said.

While the world has enjoyed unprecedented economic progress over the last 70 years, the transformation has caused “dislocation and hardship,” Lagarde said in the text of a speech to be delivered Tuesday in Toronto.

Read the Full Article: Source – Bloomberg
Time For Truth: (Bloomberg) – Lagarde Says Globalization’s Benefits Need to Be Shared by All

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IMF chief Christine Lagarde must stand trial for her role in a €400 million payout case while she was French finance minister back in 2008, France’s highest appeals court has ruled.

Lagarde is accused of “negligence” which “resulted in a misuse of public funds by a third party,” the Cour de Cassation, one of France’s courts of last resort, said in a statement on Friday.

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