"Which managing director of the ""International Monetary fund"" was forced to resign after a sex scandal in 2011?"
International Monetary Fund nations, issued a statement declaring that the tradition of appointing a European as managing director undermined the legitimacy of the IMF and called for the appointment to be merit-based. Previous managing director Dominique Strauss-Kahn was arrested in connection with charges of sexually assaulting a New York hotel room attendant and resigned on 18 May. The charges were later dropped. On 28 June 2011 Christine Lagarde was confirmed as managing director of the IMF for a five-year term starting on 5 July 2011. She was re-elected by consensus for a second five-year term, starting 5 July 2016, being the only candidate
International Monetary Fund Managing Director 2011 election International Monetary Fund Managing Director 2011 election International Monetary Fund Managing Director 2011 election The selection process for the new Managing Director of the IMF in 2011 presents characteristics that have never been seen. The balance of power that held the unwritten rule that assigned the leading position of the IMF to a European seems to be changing as the developing nations acquire more weight. In particular the BRIC nations, together with South Africa and Mexico, have expressed their strong opposition to assign the Managing Director position based on geographical characteristics as opposed to a merit-based approach. The two openly