Washington, May 16 (IANS) The International Monetary Fund (IMF) has announced that it remains "fully functioning and operational" despite the arrest of its Managing Director Dominique Strauss-Kahn, Xinhua reported Monday.

The IMF chief was arrested in New York City Saturday on accusations of sexually attacking a hotel maid.

"IMF Managing Director Strauss-Kahn was arrested in New York City. Strauss-Kahn has retained legal counsel, and the IMF has no comment on the case; all inquiries will be referred to his personal lawyer and to the local authorities," Caroline Atkinson, director of External Relations at the Washington-based IMF, said in a short statement Sunday.

"In line with standard IMF procedures, John Lipsky, First Deputy Managing Director, is Acting Managing Director while the Managing Director is not in Washington D.C.," William Murray, an IMF spokesman, said Sunday.

"Ms. Nemat Shafik, the Deputy Managing Director who oversees the IMF's work in a number of EU countries, will attend Monday's Eurogroup meeting in Brussels," Murray noted in a statement.

Strauss-Kahn, 62, who became the IMF's 10th managing director in November 2007, was pulled off an Air France flight destined for Paris at John F. Kennedy International Airport Saturday after the alleged incident, police said.

He was taken into custody and first brought to a Manhattan police station for questioning and then formally arrested at 2.15 a.m. Sunday, New York Deputy Police Commissioner Paul Browne said.