Press Release No. 08/258

Press Release: Statement by IMF Managing Director Strauss-Kahn on Executive Board Review of his Conduct

October 25, 2008

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today:

I agree with the statement made by the Executive Board today in concluding its inquiry into an incident concerning me and a staff member who has since left the Fund. I am grateful that the Board has confirmed that there was no abuse of authority on my part, but I accept that this incident represents a serious error of judgment.

I very much regret the incident and I accept responsibility for it. I have apologized for it to the Board, to the staff of the IMF and to my family. I would also like to reiterate my apology to the staff member concerned for the distress this process has caused.

I agree with the Board that the personal behavior of the Managing Director sets an important tone for the institution and I am committed, going forward, to uphold the high standards that are expected of this position.

I would like to express my appreciation to the Executive Board for its careful and thorough work which, I believe, has helped to safeguard the good governance of the IMF. I would also like to thank all those who have supported the process leading up to today's resolution of this matter by the Fund's Executive Board.

Dominique Strauss-Kahn