Resignation necessary

Borg welcomes departure of IMF chief

Sweden's finance minister, Anders Borg, has given his thumbs up with regards to the resignation of International Monetary Fund's chief, Dominique Strauss-Kahn.

"It was clear that it would have been impossible during a long trial to remain head of the IMF, especially at this period in the global economy when the situation continues to be extremely serious," said Anders Borg.

The finance minister believes that the reputation of the IMF is at stake, and that a new chief needs to be appointed as soon as possible.