Washington, D.C. The head of the International Monetary Fund will keep his job despite having an affair with a married subordinate, the agency's executive board concluded.
The IMF board issued a statement late Saturday saying that the actions of IMF Managing Director Dominique Strauss-Kahn were "regrettable and reflected a serious error of judgment."
However, the 24-member board of directors decided that Strauss-Kahn's relationship with the former IMF employee was consensual and did not involve any type of sexual harassment, favoritism or any abuse of authority.
The board, which represents all 185 member-nations of the lending institution, reached its conclusions at the end of a daylong meeting at IMF headquarters in Washington.