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| IMF Head Resigns Amid Sex Assault Charges |
NEW YORK — Head of International Monetary Fund (IMF), Dominique Strauss-Kahn, has resigned Wednesday from his Managing Director post, showing intentions to devote "all his energy" to fight the sexual assault charges he faces in New York.
He said in a statement dated 18th May (Wednesday) and issued shortly after midnight by the IMF, “It is with infinite sadness that I feel compelled today to present to the Executive Board my resignation from my post of managing director of the I.M.F.”
Dominique Strauss-Kahn, who faced increasing international pressure to quit as IMF Managing Director, announced his decision on the eve of a bail hearing Thursday that could have spelled the end of his leadership of the IMF anyway.
The executive board of IMF released a letter from Strauss-Kahn Wednesday in which he refused the sex assault charges against him but said that with "sadness" he felt he must resign. He said that he was thinking of his family and that he wanted to protect the Institution (IMF).
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