Tag Archives: IMF

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US President talks with IMF chief Lagarde over economic development

President Obama talks first time with the new IMF chief over global issues. The White House agrees with Christine Lagarde (lah-GAHRD’) considering the global need for formulating policies for creating jobs and inducing economic growth.

The two diplomats agreed on recognition of emerging economies like China for their contribution to the growing pace of global economic growth.

Dominique Strauss-Kahn had joined IMF as its managing director in 2007, supported by Sarcozy, France’s president. He continued working with the organization until May, 2011. Kahn is also a professor of economics at the Paris Institute for political studies. He resigned from the post when charged of sexual assault were made against him.

Lagarde has achieved the post as the first woman to head the International Monetary Fund. She also hails from France.

She was a lawyer by profession and also worked as Minister of economic affairs, finance and industry, agriculture minister and trade minister for France.

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New York court declares ex-IMF chief innocent

Dominique Strauss-Kahn, the Ex-IMF director has been declared innocent in a New York court today to accuse of raping a hotel maid. Several French are off and on appalled and enthralled as they follow the American jurisdictional trials.

As Ex-IMF director Dominique Strauss-Kahn is prosecuted today, the case of “New York’s People versus Strauss-Kahn, 1225782, Criminal Court of the New York City,” carry on to consecutively appall and enthrall the French on the distinctions among their judicial system, which highlights discretion and perhaps be more compassionate to suspect, as well as challenging American one.

All major French Television networks have covered Mr. Dominique Strauss-Kahn live. DSK was accused for raping a hotel maid of Sofitel Hotel nearby Times Square last month and has been declared innocent. Furthermore, DSK’s official team, led by Benjamin Brafman, said “No Comments” after the declaration.

From the time when Strauss-Kahn had been detained, French impulse has transformed from instant compassion for Strauss-Kahn, and incense and suspicion, to an indignant question on the French male mindsets about females and en route for a completely new independence to condemn what has always been mass media stillness about such mindsets, especially when they draw in privileged.

Although the Strauss-Kahn issue possibly will play over tables like a tale, but key concerns here are – mass media stillness for privileged, and men benefiting freedom to misbehave and to carry on spoiling in indignant behaviors.

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For illicit sex IMF chief resigns

It is the end of the road for Dominique Strauss Kahn the former chief of the international monetary fund as he has to vacate office for an illicit sex for which he is facing trial in US. However while resigning his exalted office at IMF he said that he is innocent of the charges that were made against him. He said that he was resigning out his desire to protect the institution of the IMF. He said that he is now going to focus all his energy and attention into regaining his integrity and to prove his innocence before the court of law. He submitted his letter of resignation. He said that he was sad that he leaving with an infinite sadness.

He has been in the American jail where he is standing trial for sexual assault in the state of New York. He has just been granted release and he is to be placed on detention in his home. However prison officials have kept a watch on the former IMF boss who is being closely monitored for a possible suicide.

The resignation of the former chief of the IMF could cause some problems in the top management of the bank as some people from non European countries could want to become the boss of that monetary institution.

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Asia targets greater roles at IMF

Asian continent is preparing to have a greater role in the activities of the International Monetary Fund IMF. This was disclosed in Beijing China.

The ongoing crises in the world number one monetary institution seemed to have reawakened the consciousness of the Asian continent for greater involvement in the affairs of the fund. Recently the controversy surrounding the sexual harassment leveled against the immediate past head of the fund Mr. Strauss Kahn has consumed his career in the organization as he has thrown in the towel as the chief executive of the fund. Already he is facing a legal prosecution over the matter.

It is not likely that an Asian would be appointed to replace him in office as the position is exclusively meant for a European to occupy.  The official from china can only be appointed the deputy managing director of the fund and not the managing director. Although since the post would be contested by interested European countries it is likely that china and indeed the other Asian countries would play the power broker role in deciding whoever emerges as the next head of the international monetary fund.

It would be expected that a new chief executive would be appointed for the fund in no distant time as the resignation of the former chief has created a vacuum in the administration of the fund. Already the IMF has been asked to look in the direction of Europe for the new chief.

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IMF chief Strauss-Kahn in Court for Illicit Sex

This is a troubled time for the chief executive of the International Monetary Fund Dominique Strauss Kahn. He is to undergo forensic and scientific tests to disprove that he does not have an illicit love affair with a hotel maid. He is facing court action over the matter and he is prepared to go to any extent to prove his innocent. The court was temporary suspended to enable him go for the test which he conceded.

The IMF chief was arrested last weekend and had remained in jail over an allegation that he assaulted a 32 year worker at Sofitel hotel that is located in Manhattan. The victim who made a report to the police quickly identified kahn as the man that assaulted her. The hearing now commences on Monday. His lawyer Benjamin Brafman has said that his client is innocent of the crime and said that the IMF chief will defend himself.

The other lawyer for the Imf chief William Taylor also said that Kahn willingly consented to the scientific test as requested by the government. It would be recalled that the IMF boss was pulled from the Air France on his way to Germany to discuss with Angela Merkel and the European ministers on the debt problems.