STRAUSS-KAHN STEPS DOWN AS HEAD OF IMF

Dominique Strauss-Kahn, the managing director of the International Monetary Fund, who is facing attempted rape charges in New-York, announced his resignation late Wednesday night.


In a statement, Strauss-Kahn said he is resigning "with infinite sadness" in an effort "to protect this institution."


Strauss-Kahn is being held without bail at New-York's Rikers Island prison. Police arrested him Saturday after he boarded an Air France flight at John F Kennedy airport in New-York. He will appear in court on Friday.


A Letter by Strauss-Kahn to Board:-


May 18, 2011


Executive Board of the International Monetary Fund
700 19th St., NW.
Washington, D.C. 20431


Ladies and Gentlemen of the Board:


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 IMF.


I think at this time first of my wife—whom I love more than anything—of my children, of my family, of my friends.


I think also of my colleagues at the Fund; together we have accomplished such great things over the last three years and more.


To all, I want to say that I deny with the greatest possible firmness all of the allegations that have been made against me.


I want to protect this institution which I have served with honor and devotion, and especially—especially—I want to devote all my strength, all my time, and all my energy to proving my innocence.

Dominique Strauss-Kahn