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IMF to select Strauss-Kahn replacement by June 30

23 May 2011 13:01 (UTC +04:00)

Baku - APA-Economics. THE International Monetary Fund’s (IMF) selection process for a new managing director will kick off with nominations Monday, and the final decision expected by June 30, the institution said.

"I am very pleased to announce that the Fund’s Executive Board has adopted a procedure that allows the selection of the next managing director to take place in an open, merit-based, and transparent manner," A Shakour Shaalan, dean of the IMF executive board, said in a statement, cited by AFP, released today.

As is known, Dominique Strauss-Kahn has resigned from his position after tripping cases of attempted rape. The IMF said in a statement said that in the near future the Executive Board will communicate to immediately process the new Managing Director. Currently, Deputy Managing Director of IMF, John Lipsky already acting as an officer while the Managing Director. But Lipsky will soon be retiring on August 31.

Strauss-Kahn, who has served as Director of the IMF since 2007 on Sunday, May 15 and police arrested the U.S. when it was at the airport John F. Kennedy shortly before traveling to France. Strauss-Kahn was arrested after there were reports of sexual assault on a female servant, Sofitel New York 32 years old. Strauss-Kahn was in the hotel room cost U.S. $ 3,000 per night on business. According to police, Strauss-Kahn of sexual assault and attempted rape against her maid during the day. Strauss-Kahn is now in prison Rikers Island, after payment of bail was rejected.