16 May 2011

IMF 'fully functioning' despite Strauss-Kahn's arrest

1:54 pm on 16 May 2011

The International Monetary Fund says it remains fully functioning and operational despite the arrest in New York of its managing director, Dominique Strauss-Kahn, on charges of sexual assault.

The IMF chief has been arrested and charged with a criminal sexual act, attempted rape and unlawful imprisonment in relation to a complaint made by a New York hotel maid.

In its first statement since Mr Strauss-Kahn's arrest, the IMF said it had no comment and referred all inquiries to Strauss-Kahn's lawyer and local authorities.

The IMF said on Sunday that its first deputy managing director, John Lipsky, would step up to the top role in Mr Strauss-Kahn's absence.

A lawyer for the 62-year-old, who was a key player in the response to the global financial meltdown and Europe's debt crisis, says Mr Strauss-Kahn will plead not guilty.