Fri, May 20, 2011 - Page 1 News List

Strauss-Kahn quits IMF to concentrate on fighting charges

Reuters, NEW YORK

“As agreed at G20, heads of international financial organizations and senior leaders should be chosen based on their ability through an open and transparent process, so I think a suitable person should be chosen through such a process,” Japanese Finance Minister Yoshihiko Noda said after Strauss-Kahn’s resignation.

Strauss-Kahn’s departure comes at a sensitive time given the IMF’s dominant role in helping eurozone states such as Greece, Ireland and Portugal deal with massive debt problems.

Europeans argue that because of the eurozone debt crisis it makes sense for them to retain the post.

John Lipsky, the IMF’s No. 2, is acting managing director until the executive board selects a successor to Strauss-Kahn.

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