Press Release: Statement by IMF Executive Board on Review of Managing Director's Conduct
IMF News, October 25, 2008
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Bibliographic details
- Published: October 25, 2008
Executive summary and process
- Press Release No. 08/257
- Date: October 25, 2008
- Issued by: IMF EXTERNAL RELATIONS DEPARTMENT, Public Affairs, Media Relations
- Contact details:
- E-mail: publicaffairs@imf.org
- E-mail: media@imf.org
- Fax: 202-623-6220
- Phone: 202-623-7100
- The 24-member Executive Board, under the chairmanship of A. Shakour Shaalan, the Dean of the Board, concluded an inquiry into allegations of improper conduct involving the Managing Director, Dominique Strauss-Kahn.
- The Board reviewed:
- findings of an independent inquiry carried out by external counsel; and
- an analysis of the standards of conduct applicable under the contract of the Managing Director.
Key findings and conclusions
- The Board is satisfied that the inquiry was conducted in a thorough, independent, and expeditious manner and expressed appreciation to the external counsel for his careful and exhaustive effort.
- Transparency decision:
- Both the external counsel's report and the background note on applicable standards of conduct under the Managing Director's contract will be made public.
- Substantive conclusion:
- Based on the facts established by the external counsel's report, and the advice provided by the General Counsel and the Ethics Officer regarding the applicable standards of conduct, the Board concluded that there was no harassment, favoritism, or any other abuse of authority by the Managing Director.
- Conduct assessment:
- The Executive Board noted that the incident was regrettable and reflected a serious error of judgment on the part of the Managing Director, as he has acknowledged and for which he has apologized.
- The Executive Board stressed that the personal conduct of the Managing Director sets an important tone for the institution and, as such, must be beyond reproach at all times.
Follow-up actions and institutional response
- The Executive Board took note of the concluding observations by the external counsel with respect to best practices.
- The Board will take those observations into account in the work underway in the Fund to review the standards of conduct applicable to:
- the Managing Director,
- the staff, and
- the members of the Executive Board.
Closing statement
- The Board thanked all those who cooperated with the inquiry.
- The Board considers that this matter is now closed, and looks forward to continuing to work with the Managing Director and staff on the daunting challenges facing the membership.
Press Release No. 08/257, October 25, 2008, IMF EXTERNAL RELATIONS DEPARTMENT.