Marketplace Off Air

Strauss-Kahn apologizes to IMF for scandal

Melissa Kaplan Oct 22, 2008

An investigation has begun into IMF managing director Dominique Strauss-Kahn’s alleged affair with a coworker. The New York Times reports Strauss-Kahn issued an apology to his staff and the woman in question, economist Piroska Nagy. The investigation comes at a time when the IMF’s worldwide obligations are increasing — including a bailout of Iceland. Strauss-Kahn’s legal team is working to resolve the issue by the end of the month.

In a statement issued by Strauss-Kahn, the former French finance minister said: “I have cooperated and am continuing to cooperate with outside counsel to the Fund concerning this matter . . . at no time did I abuse my position as the Fund’s managing director.” His wife, popular French TV personality Anne Sinclair, noted in her personal blog that she was already over her husband’s “one-night stand.”

The scandal may be undermining the IMF’s credibility, but doesn’t seem to have swayed borrowers from continuing business with the Fund.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.