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ECONOMICS REPORT - Who Should Be the Next Chief of the IMF?

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Dominique Strauss-Kahn with his attorney Benjamin Brafman, is arraigned Monday, May 16, 2011, in New York City on sexual attack charges
Dominique Strauss-Kahn with his attorney Benjamin Brafman, is arraigned Monday, May 16, 2011, in New York City on sexual attack charges

This is the VOA Special English Economics Report.

The International Monetary Fund will need to find a new leader. Dominique Strauss-Kahn has resigned as managing director. Mr. Strauss-Kahn is charged with a sexual attack on a cleaning woman at a New York hotel last Saturday. He said in a resignation letter released Thursday by the IMF that he denies the charges "with the greatest possible firmness."

His fall has especially shocked Europe. The IMF is currently playing a major part in rescue loans to Greece, Ireland and Portugal. European nations have increasingly depended on the fund to help them in their recent struggles with debt.

The IMF and the World Bank grew out of an international conference held in the United States in nineteen forty-four. They were created as ways to support economic cooperation and development.

Both are both based in Washington. The World Bank has traditionally been led by an American and the IMF by a European.

But fast-growing economies in the developing world say it is time for a change. Officials from Brazil, China and India say Mr. Strauss-Kahn's replacement should come from outside Europe.

German Chancellor Angela Merkel, leader of Europe's biggest economy, disagrees.

ANGELA MERKEL: "In the present situation, when we have significant problems with the euro and the IMF is very much involved there, there should be a European candidate with support from the international community."

The main job of the IMF is to help make sure payments flow smoothly between nations. Sometimes this means providing loans so governments can meet debt payments.

The money it lends comes mostly from "quotas" -- financial promises made by its members. One hundred eighty-seven nations belong to the IMF. The lender currently has about two hundred fifty billion dollars in approved loans. Most of these loans have not yet been used, or drawn down.

What effect the resignation of Dominique Strauss-Kahn will have is unclear. He was praised as a skillful negotiator in dealing with Europe and the global financial crisis.

STEPHANIE RICKARD: "But the actual negotiations of the loan conditions on the ground is done by technocratic economists, staff members at the IMF, and they're going to continue to do their job."

Stephanie Rickard is an expert on the IMF and World Bank at the London School of Economics.

Dominique Strauss-Kahn became managing director in two thousand seven. The Frenchman widely known as DSK is a member of France's Socialist party. Before his arrest, he was considered a leading candidate for France's presidential election next year.

And that's the VOA Special English Economics Report. I'm Mario Ritter.

网友的学习评论(18条):
作者:alectae
there is no candidate from China
The pdf file is not the exact one! Please correct it!
作者:rain
What effect the resignation of Kahn will have is unclear....
作者:backboat
sexual attack and sexual violence are increasingly serious. why?
作者:鸟儿高飞
I'm afraid that there must be something wrong with the pdf file.I really appreciate it if you could give us a correct edition.
作者:Webmaster
TO 鸟儿高飞:PDF文档错误已经修复,感谢及时报告!
作者:seraphim-Mars
Sometimes, behind all the failing man, there's also a woman.
作者:lidanhong
it is the time for a change ,American can be led by a black ,so do the IMF and the world bank can be led by other countries.
作者:lidanhong
To tell the turth,kahn's fall is due to himself and the American,not the woman.
作者:martin lee
It appears that you "lidanhong" know something
作者:桂桂
The new leader of the IMF should be chosen from the developing countries.
作者:light-go
Strauss-Kahn ,before his arrest, he was considered a leading candidate for France's presidential election next year,maybe was under a trap.
作者:Haraguroi
What is mean that "with the greatest possible firmness."in the first paragraph.I can't understand it. Cloud you help me ? thx!
作者:martin lee
"with the greatest possible firmness" means "firmly believe"
作者:Moon
His fall has especially shocked Europe
作者:陈建祥
come from Chinawe can do better
作者:到此一游
sexual attact??
作者:LEO
how to understand the meaning of "sexual attact"
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