Christine Lagarde has been convicted of one count of negligence by a French court.

While the managing director of the International Monetary Fund (IMF) will not face a fine or prison sentence, the conviction casts a shadow over her role as the head of the Fund.

The IMF board has continued to support Lagarde throughout her trial.

In a statement released shortly after the verdict, a spokesman said the Board would meet to "consider" the verdict:

The Executive Board has met on previous occasions to consider developments related to the legal proceedings in France. It is expected that the Board will meet again shortly to consider the most recent developments.

Lagarde was appointed for second five-year term as IMF chief in February.

She was the sole applicant for the job.