IMF Managing Director (2007–2011) : Dominique Strauss-Kahn - Wikipédia
On 10 July 2007, he became the consensus European nominee to be the head of the IMF, with the personal support of President Nicolas Sarkozy (member of the right UMP party). Former Polish Prime Minister Marek Belka withdrew his candidacy as it was opposed by the majority of European countries.[22] Some critics alleged that Sarkozy proposed Strauss-Kahn as managing director of the IMF to deprive the Socialist Party of one of its more popular figures.[23]
Strauss-Kahn became the front runner in the race to become Managing Director of the IMF, with the support of the 27-nation European Union, the United States, China and most of Africa. On 28 September 2007, the International Monetary Fund's 24 executive directors selected him as the new managing director. Strauss-Kahn replaced Spain's Rodrigo Rato.[24] On 30 September 2007, Dominique Strauss-Kahn was formally named as the new head of the International Monetary Fund (IMF). The only other nominee was the Czech Josef Tošovský, a late candidate proposed by Russia. Strauss-Kahn said: "I am determined to pursue without delay the reforms needed for the IMF to make financial stability serve the international community, while fostering growth and employment".[25] Under Strauss-Kahn the IMF's pursuit of financial stability has included calls for a possible replacement of the dollar as the world's reserve currency. An IMF report from January 2011[26] called for a stronger role for Special Drawing Rights (SDR) in order to stabilize the global financial system. According to the report, an expanded role for SDRs could help to stabilize the international monetary system. Furthermore, for most countries (except for those using the U.S. dollar as their currency) there would be several advantages in switching the pricing of certain assets, such as oil and gold, from dollars to SDRs. For some commentators that amounts to a call for a "new world currency that would challenge the dominance of the dollar".[27]
In 2008, the IMF Board appointed an independent investigator following allegations that Strauss-Kahn had had an affair with a subordinate, Piroska Nagy, who was married at the time to economist Mario Blejer. Nagy alleged that Strauss-Kahn had used his position to coerce her into the affair.[28] She was later made redundant and Strauss-Kahn assisted her in getting a new job.[29] The IMF board issued the findings of the investigation; while noting that the affair was "regrettable and reflected a serious error of judgment on the part of the managing director", the board cleared Strauss-Kahn of harassment, favoritism or abuse of power, and indicated that he would remain in his post.[30][31] Strauss-Kahn issued a public apology for the affair. Le Journal du Dimanche dubbed him "le grand séducteur" (the Great Seducer).[32]
Strauss-Kahn made comments that could be perceived as critical of global financial actors, in an interview for a documentary about the Late-2000s financial crisis, Inside Job (2010). He said he had attended a dinner organised by former Treasury Secretary Henry Paulson in which several CEOs of 'the biggest banks in the U.S' had admitted they (or perhaps bankers in general) were 'too greedy' and bore part of the responsibility for the crisis. They said the government " 'should regulate more, because we are too greedy, we can't avoid it.' " Strauss-Kahn said he warned the officials of a number of departments of the U.S. government of an impending crisis. He also said: "At the end of the day, the poorest – as always – pay the most."[33]
Referring to his diplomatic efforts to secure IMF aid for Europe following the 2010 sovereign debt crisis, economist Simon Johnson described Strauss-Kahn as "Metternich with a blackberry".[34][35] In May 2011, referring to the IMF's change of heart in favour of progressive rather than neoliberal values, Joseph Stiglitz wrote that Strauss-Kahn had proved himself to be a "sagacious leader" of the institution.[36] Following Strauss-Kahn's arrest for sexual assault in New York, economist Eswar Prasad said that should he be forced to step down, the IMF "will find it hard to find as effective and skilful an advocate for keeping the institution central to the global monetary system".[34]
John Lipsky, the IMF’s second-in-command, was named acting Managing Director on 15 May 2011.[37]
Strauss-Kahn resigned from the IMF on 18 May 2011.[38][39]