IMF appoints Strauss-Kahn its new chief
Sunday, 30 September 2007
WASHINGTON, Sept 29 (AFP): The International Monetary Fund appointed Dominique Strauss-Kahn its new chief yesterday as the battered institution seeks to redefine itself in the face of increasing skepticism globally.
The IMF executive board said it had chosen "by consensus" the French Socialist former finance minister as managing director for a five-year term, starting November 1, to succeed Rodrigo Rato of Spain.
"I am determined to pursue without delay the reforms needed for the IMF to make financial stability, serve the international community, while fostering growth and employment," Strauss-Kahn said in a statement after the announcement.
Strauss-Kahn, 58, had been widely expected to get the job after he gathered support from Europe and the United States, the powers that still dominate the IMF.
The Bretton Woods institution, created in 1944, is seeking to redefine its role in a globalising world reshaped by the rising economic clout of developing countries like China, India and Brazil.
The IMF executive board said it had chosen "by consensus" the French Socialist former finance minister as managing director for a five-year term, starting November 1, to succeed Rodrigo Rato of Spain.
"I am determined to pursue without delay the reforms needed for the IMF to make financial stability, serve the international community, while fostering growth and employment," Strauss-Kahn said in a statement after the announcement.
Strauss-Kahn, 58, had been widely expected to get the job after he gathered support from Europe and the United States, the powers that still dominate the IMF.
The Bretton Woods institution, created in 1944, is seeking to redefine its role in a globalising world reshaped by the rising economic clout of developing countries like China, India and Brazil.