Who Should Be the Next Chief of the IMF?
19 May 2011
Dominique Strauss-Kahn with his lawyer Benjamin Brafman in a court in New York City Monday.
This is the VOA Special English Economics Report.
The International Monetary Fund will need to find a new leader. Dominique Strauss-Kahn has resigned as managing director. Mr. Strauss-Kahn is charged with a sexual attack on a cleaning woman at a New York hotel last Saturday. He said in a resignation letter released Thursday by the IMF that he denies the charges "with the greatest possible firmness."
His fall has especially shocked Europe. The IMF is currently playing a major part in rescue loans to Greece, Ireland and Portugal. European nations have increasingly depended on the fund to help them in their recent struggles with debt.
The IMF and the World Bank grew out of an international conference held in the United States in nineteen forty-four. They were created as ways to support economic cooperation and development.
Both are both based in Washington. The World Bank has traditionally been led by an American and the IMF by a European.
But fast-growing economies in the developing world say it is time for a change. Officials from Brazil, China and India say Mr. Strauss-Kahn's replacement should come from outside Europe.
German Chancellor Angela Merkel, leader of Europe's biggest economy, disagrees.
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