WASHINGTON - The International Monetary Fund (IMF) announced Sunday that it was "fully functioning and operational" despite the arrest of its Managing Director Dominique Strauss-Kahn.

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"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.

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

"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 on 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.