Strauss Khan Of The IMF Treasury Chief Geithner Update

IMF Chief

 Mr Geithner said the IMF’s excutive board should designate an interim head.

The alleged assault on a maid happened at New York’s luxury Sofitel hotel on 14^th May. Mr. Strauss Khan who denis the claims has been put on suicide watch in the city’s infamous Rikers Island prison.

As a precaution, guards are required to check on him every 15 to 30 minutes. The 62 year old, who had been seen as favourite in France’s 2012 presidential elections, faces seven charges and could be sentence to up to 25 years in jail. The defence offer to post $1m (£617,000) bail, with Mr Strauss Khan to stay at his daughter’s address in New York until the text hearing on Friday. However, a New York judge rejected the application.

Mounting Pressure:

Addressing the Harvard Club in New  York on Tuesday, Mr. Geithner said the most important thing for the IMF was that it found a leader to fill Mr. Strauss Khan’s shoes. He is obviously not in a position to run the IMF, Mr. Geithner said. It is important that the board of the IMF formally put in place for an interim someone to act as managing director.

It is the first time that a top official from President Barack  Obama’s administration has publicly spoken about the impact of the Mr. Strauss Khan’s alleged sexual assault. However, Mr  Geithner refused to comment on the case or the details of the charges against Mr. Strauss Khan.

There’s a lot going on in the world you want the IMF to have the capacity to be helpful and I’m very confident that they will be able to , said the Treasury Secretary, who once worked for the fund as director of its policy development and review department. 

European governments have made clear they favor a successor from their continent, while some emerging market leaders have called for an IMF leader from one of their countries. As the largest single shareholder in the organization, the U.S will play a key role in determining the outcome.