Strauss-Kahn hopes to restore IMF's relevance, legitimacy

0 Comments | AFP, September, 2007

WASHINGTON (AFP) — Dominique Strauss-Kahn, the front-runner EU candidate to head the International Monetary Fund, pledged Thursday to work to restore "both the relevance and the legitimacy" of the global organization.

"It will be a hard task for all of us to rebuild both the relevance and the legitimacy of this organization. But I am prepared to do that and I ask you to be prepared as well," Strauss-Kahn told the IMF executive board.

"Indeed, what might be at stake today is the very existence of the IMF as the major institution providing financial stability to the world, a global public good," he said, according to the text of his remarks released by the IMF.

His victory in a two-man race for the job of managing director virtually assured after being...