Open

Coming up

Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

'Requiem for a recorder'

Read more

DEBATE

Pakistan's Political Turmoil: Can Imran Khan's PTI Party Depose the Government?

Read more

DEBATE

Pakistan's Political Turmoil: Can Imran Khan's PTI Party Depose the Government? (part 2)

Read more

DEBATE

Racism, riots and police violence: USA under scrutiny

Read more

IN THE PAPERS

"The pen is mightier than the sword"

Read more

FOCUS

Israel's minorities and military service

Read more

BUSINESS DAILY

Russia targets McDonald's over tensions with West

Read more

AFRICA NEWS

Ebola: Liberian authorities admit 17 patients are missing

Read more

MEDIAWATCH

'New York Post' slammed for publishing Foley execution images

Read more

  • Special report: Supplying Ukraine’s soldiers on the front line

    Read more

  • Israeli air strike kills three top Hamas commanders

    Read more

  • Former Femen activist detained after fighting veiled woman

    Read more

  • US forces tried to rescue slain reporter from IS captors

    Read more

  • Interactive: Relive the Liberation of Paris in WWII

    Read more

  • Former Irish PM Albert Reynolds dies at 81

    Read more

  • Tensions high in Yemen as Shiite rebel deadline looms

    Read more

  • Thailand coup leader Prayuth Chan-ocha voted prime minister

    Read more

  • Deadly street battles hit Ukrainian rebel stronghold

    Read more

  • US attorney general visits Missouri town after fatal shooting

    Read more

  • French village rallies behind besieged elderly British couple

    Read more

  • Brazil’s Silva launches bid after Campos plane crash death

    Read more

  • Netanyahu compares Hamas to IS, Gaza offensive to continue

    Read more

  • Brutal IS beheading video sparks social media pushback

    Read more

  • France’s ex-PM Juppé sets up presidential clash with Sarkozy

    Read more

Probe clears IMF chief Strauss-Kahn in affair

Video by Cédric MOLLE LAURENCON , Sonali BHATTACHARYYA

Text by REUTERS

Latest update : 2008-10-26

The International Monetary Fund's board faulted Managing Director Dominique Strauss-Kahn of “a serious error of judgment” but found no abuse of power in an affair he had with an IMF economist.

 

The International Monetary Fund's board cleared Managing Director Dominique Strauss-Kahn on Saturday of harassment, favoritism and abuse of power following an inquiry into his affair with a subordinate.

"The executive board noted that the incident was regrettable and reflected a serious error of judgment on the part of the managing director," the IMF's board of member countries said in a statement.

"The executive board stressed that the personal conduct of the managing director sets an important tone for the institution and, as such, must be beyond reproach at all times," it added.

The investigation into allegations of improper conduct by Strauss-Kahn found that his affair with Piroska Nagy, who worked in the IMF's Africa department as a senior economist until taking a buyout in August, had been consensual.

The head of the IMF board, Shakour Shaalan, said the board's decision was unanimous among its 24 members, who oversee the day-to-day operations of the global institution.

The board sought to deal with the investigation quickly so as not to distract the IMF from its role in dealing with the global financial crisis that has sent markets plunging on fears the world economy is in for a long and deep recession.

Shaalan told a conference call with reporters that Strauss-Kahn still had the confidence of the board.

"Our conclusion was that this will in no way affect the effectiveness of the managing director in the very challenging and difficult period ahead," said Shaalan, who represents Egypt and other Arab countries on the board.

"This was an unfortunate incident where he expressed his regrets and the board has accepted his apologies," Shaalan said, adding, "I personally spoke to him after the meeting and informed him this should not happen again."

Date created : 2008-10-26

COMMENT(S)