Chance to reform IMF

The arrest of Dominique Strauss-Kahn on May 14 in New York, for an alleged sexual assault, has surely dealt a huge blow to the International Monetary Fund's credibility, which is as fragile as the ongoing global recovery.

To avoid further damaging the IMF, at a time when it is badly needed to deal with both lasting and looming financial crises around the world, a change of personnel at the top of the fund seems inevitable.

While the case of Strauss-Kahn is likely to stay in the limelight, intensified jockeying for his job, one of the most powerful positions in global finance, has already begun and is grabbing more and more media attention.