Imf, International Monetary Fund | featured news

It was only a matter of time after the arrest in New York of Dominique Strauss-Kahn on sexual assault charges before the America-bashing would begin in France. On day one, the scandal involving the International Monetary Fund chief and a hotel maid brought shock and stupefaction. Day two, shame and self-pity. By day three, France was looking for a messenger to shoot, someone to blame for the likely political loss of the Socialist Party leader many believed would be the next president.

Europe is moving quickly to protect its traditional claim to the top job at the IMF ahead of the expected departure of current chief Dominique Strauss-Kahn, fending off any demand from developing countries to claim the job for their own.

Dominique Strauss-Kahn, the leader of the International Monetary Fund, was ordered on Monday to be held without bail over allegations that he had sexually assaulted a maid in a $3,000-a-night suite at a Midtown hotel.

Euro zone finance ministers are ready to back an EU/IMF bailout of Portugal at a Monday meeting overshadowed by the arrest of International Monetary Fund chief Dominique Strauss-Kahn on sexual assault charges.

The arrest of IMF chief Dominique Strauss-Kahn in connection with a sexual assault in New York risks throwing the French presidential race in disarray.

Portugal launched talks on Tuesday with European authorities and the IMF on a bailout the caretaker government said it needs to pay the country's dues from June, as politicians jostled ahead of a general election.

Ireland's parliament approved a multi-billion euro EU/IMF bailout package on Wednesday in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks.

The Belgian finance minister and International Monetary Fund suggested that the scope of measures to stabilize the euro should be strengthened.

The EU and IMF extends 85bn euros of emergency loans to the Republic of Ireland, according to reports on Irish state television.

The executive board of the International Monetary Fund approved Wednesday the cancellation of Haiti's $268 million debt to the fund.