WASHINGTON, Oct. 26 (UPI) -- The International Monetary Fund says Managing Director Dominique Strauss-Kahn won't be fired for having an affair with a subordinate.
The fund's executive board said Strauss-Kahn, who is married, showed poor judgment in having an affair with Piroska Nagy, but he did not abuse his power or show favoritism, The New York Times reported.
Nagy, then an official in the Africa department, left the fund in August as part of a buyout of nearly 600 employees instituted by Strauss-Kahn to cut costs.
Strauss-Kahn, 59, a former French finance minister, assumed his post a year ago and now is guiding the fund through the global financial upheaval.
In a statement, Strauss-Kahn acknowledged the brief affair was a "serious error of judgment," while his wife, Anne Sinclair, a French television journalist, wrote on her personal Web blog that her husband's affair had been a "one-night stand" and Sinclair and her husband had "turned the page."
