Dominique Strauss-Kahn, France's former finance minister, began his five-year term at the International Monetary Fund (IMF) on Thursday. He acknowledged that he is taking over at a time when the Fund desperately needs reform and to reach out to emerging economies.
He said on Thursday that some countries were questioning the usefulness of the Fund, given that they have enough foreign exchange reserves not to have to be dependent on the IMF.
"I defined myself as the candidate for reform. Now I'
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