Lipsky Remains Acting IMF Chief after Strauss-Kahn QuitsWorld | May 19, 2011, Thursday // 08:34| views
John Lipsky (R) is pictured here during his first visit to Bulgaria in June 2007 at the invitation of the then Finance Minister Plamen Oresharski (M). Photo by Sofia Photo Agency
John Lipsky, the International Montary Fund deputy, will continue to serve as acting managing director after the organization's chief Dominique Strauss-Kahn resigned following an alleged sexual assault of a hotel maid in New York.
Lipsky has been in interim control of the IMF since Strauss-Kahn's arrest.
The IMF said it would inform "in the near future" on the selection process of a new chief.
Tradition has it that the IMF chief comes from Europe, while the head of the World Bank is an American. But emerging economies like China, India and Brazil, with their huge economic clout, are challenging that idea.
European Commission President Jose Manuel Barroso said Europe would naturally put forward a candidate to replace Strauss-Kahn if he were to step down.
Germany, which wants a European to keep the job, said the IMF should deal with its immediate leadership internally and that it is too early to discuss a successor to Strauss-Kahn.
French officials said John Lipsky, the IMF's American number two official whose term ends in August, would represent the Fund at next week's Group of Eight summit in France.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!