MADRID—Former International Monetary Fund chief Rodrigo Rato will have to serve a four-and-a-half year jail sentence for misusing company credit cards when he worked at state-owned lender Bankia, Spain’s Supreme Court confirmed on Oct. 3.
Rato, who was economy minister in Spain and a prominent figure in the ruling People’s Party before moving to the IMF, chaired Bankia for two years until just before its state bailout in 2012.
