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BREAKING NEWS

IMF chief probed for abuse of power

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IMF chief probed for abuse of power

IMF chief probed for abuse of power
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The chief of the International Monetary Fund, Dominique Strauss-Kahn, is under investigation for abuse of power in connection with a sexual relationship with a subordinate.

The news has surfaced in the Wall Street Journal, which says the probe focusses on Strauss-Kahn’s relationship with a former senior IMF official earlier this year. Emails exchanged between the two parties were apparently discovered by the woman’s husband.

She resigned from the IMF in August as part of a personnel cutback. A former French finance minister, Strauss-Kahn is widely considered as one of Europe’s most accomplished economists. He was elected managing director of the IMF in September 2007.

The Journal quotes Strauss-Kahn as saying in a statement that he is cooperating with the investigation, and that he denies the accusations.

The probe comes 15 months after former World Bank president Paul Wolfowitz was forced to quit because of alleged favoritism to a colleague with whom he had a long-standing relationship.