WASHINGTON // The head of the International Monetary Fund will remain in his job after the agency's executive board concluded there is no cause for dismissal over an extramarital relationship.
The IMF board issued a statement late yesterday saying that the actions of IMF's managing director Domique Strauss-Kahn were "regrettable and reflected a serious error of judgment". However, the 24-member board of directors decided Mr Strauss-Kahn's relationship with the former IMF employee was consensual and did not involve any type of sexual harassment, favoritism or any other abuse of authority by Mr Strauss-Kahn.
The board, which represents all 185-member nations of the lending institution, reached its conclusions at the end of a daylong meeting at IMF headquarters in Washington. In a statement, the board said based on the findings of an outside law firm hired to investigate the matter and discussions yesterday with Mr Strauss-Kahn, they now consider the incident closed. Shakour Shaalan, the dean of the executive board, told reporters during a conference call the board believed the incident would not harm Mr Strauss-Kahn's effectiveness going forward.
The IMF is expected to play a critical role in providing loans to countries harmed by the current global financial crisis. The former employee with whom Mr Strauss-Kahn had the affair has been identified as Piroska Nagy, now in London with the European Bank for Reconstruction and Development.
The incident involving Mr Strauss-Kahn occurred 15 months after Paul Wolfowitz resigned as president of the World Bank amid controversy over a pay package for his girlfriend, a bank employee. The World Bank is a sister lending institution to the IMF.
*AP
Sholto Byrnes on Myanmar politics
The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
Scorebox
Sharjah Wanderers 20-25 Dubai Tigers (After extra-time)
Wanderers
Tries Gormley, Penalty
Cons Flaherty
Pens Flaherty 2
Tigers
Tries O’Donnell, Gibbons, Kelly
Cons Caldwell 2
Pens Caldwell, Cross
ETFs explained
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Which honey takes your fancy?
Al Ghaf Honey
The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year
Sidr Honey
The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest
Samar Honey
The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments
MATCH INFO
Uefa Champions League final:
Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports
Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar
