17 May '11, 2am

Strauss-Kahn arrest plummets IMF into disarray

Strauss-Kahn arrest plummets IMF into disarray

WASHINGTON: The arrest on sexual assault charges of the head of the International Monetary Fund has embarrassed an elite institution often resented for dictating fiscal chastity to developing countries. IMF managing director Dominique Strauss-Kahn's arrest by New York police for attempting to rape a hotel chambermaid opens a gaping hole at the institution just as it wrestles with a deep and complex financial crisis across Europe. With the institution's leader locked up in the city's Rikers Island prison and its number two slated to leave in August, pressure was quickly building on the global last-chance sovereign lender to come up with fresh leadership. The IMF executive board met late Monday to discuss Strauss-Kahn's situation, but made no public decision on his fate. "The board was briefed regarding criminal charges that have been brought against the managing director du...

Full article: http://www.channelnewsasia.com/stories/afp_world/view/112...

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