Chief of IMF Strauss-Kahn's alleged sexual liaison with his subordinate and abuse of his position have shaken the IMF and dented its image at a time when the organization needs a strong leader and the world needs strong institutions like IMF.http://www.trcb.com/en-Us60Sat, 26 May 2012 05:46:30 ESTCopyright 2012 Feroz Ahmed Bawany, TRCB.com All Right Reservedhttp://www.trcb.com/news-and-society/crime/imf-chief-having-sexual-scandal-and-allegation-of-using-his-position-1869.htm<p>The sex and abuse of power scandal that has hit International Monetary Fund pattern in chief Dominique Strauss-Kahn could not have come at a more difficult time for the financial world.</p><p>International Monetary Fund and the World Bank are supposed to provide leadership in such troubled times. In addition, here we have the IMF leadership battling a personal scandal when he should be focusing on negotiating the world economy out of troubled waters.</p><p>Several countries, reeling from the current financial meltdown, are desperately seeking the IMF help in dealing with the crisis. Iceland, Ukraine, Hungary, Vietnam, Bangladesh, Thailand and possibly even Pakistan have queued up for the Fund's controversial bailout packages, as a last resort measure to resurrect their economies. Strauss-Kahn's alleged sexual liaison with his subordinate and abuse of his position have shaken the IMF and dented its image at a time when the organization needs a strong leader and the world needs strong institutions like IMF.</p><p>The entire matter bears an uncanny similarity to the scandal involving ex-chief of World Bank, Paul Wolfowitz, who resigned after being found guilty of promoting his subordinate and love interest. Nevertheless, Strauss-Kahn is no Wolfowitz, whose Iraq war legacy always overshadowed his association with WB. Since his appointment in November 2007, Strauss-Kahn has made an effort to overhaul the IMF to boost its functioning. He enjoys popularity amongst IMF board members. Moreover, won accolades for revamping the voting structure of the fund to give greater say to developing countries.</p><p>Unfortunately, the Strauss-Kahn affair is diverting the IMF attention from far more pressing matters. Jeane-Claude Trichet, the Governor of the Central Bank, has given his vote of confidence to Strauss-Kahn, claiming that he is convinced that the latter is not guilty. We only hope Trichet's optimism is justified.</p>Wed, 22 Oct 2008 12:54:13 ESThttp://www.trcb.com/news-and-society/crime/imf-chief-having-sexual-scandal-and-allegation-of-using-his-position-1869.htmTRCB.comNews and Society / Crime