John Lipsky, IMF acting managing director, said that his institution has dealt with these situations before "without any problem" and he showed his confidence. He said: "This interregnum is going to proceed without any problems. The institution is fully capable and anxious to deal with all its responsibilities and is operating in a fully normal way."

"I don't have the slightest doubt that we can fulfill all of our responsibilities and challenges in an adequate—not just adequate, but a superior way. Let me be specific. On Monday, colleagues participated in a meeting of the Euro Group on dealing with the European periphery. As I mentioned, tomorrow the Board will meet considering the Portuguese program. Earlier this week, the Board met on the Irish program. We have mission in the field in Greece and in Egypt. This institution is fully engaged in meeting all of the challenges," he said.

Lipsky indicated that next week deputy managing director Shafik will participate in the G-20 employment ministers meeting in Paris.

"At the end of the week, I will personally accompany senior staff to participate in the G-8 finance ministers meeting on the MENA region and on Africa. We are fully engaged with our responsibilities," he said.

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