DSK resigns from post as IMF chief

05-19-2011 18:49 BJT Special Report:IMF Chief Arrested for Sexual Assault |

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Dominique Strauss-Kahn has resigned from his post as Managing Director of the International Monetary Fund. The former chief is currently being detained on sexual assault charges, ahead of a second bail hearing. But it's an allegation he strenuously denies.

A voluntary departure but an inevitable one, for embattled former IMF chief, Dominique Strauss-Kahn.

The IMF managing director stepped down from his post on Wednesday. His letter of Resignation spoke of his "infinite sadness", at having to leave his post.

But the regret stops there. Strauss-Kahn strongly denies the sexual assault charges brought against him, and says he will devote all his strength, time and energy to proving his innocence.

Dominique Strauss-Kahn has resigned from his post as
Managing Director of the International Monetary Fund.
The former chief is currently being detained on sexual
assault charges, ahead of a second bail hearing.

The announcement comes on the eve of Kahn's second bail hearing, in which his defense team is proposing a one million US dollar bond, and confinement to a Manhattan residence, for the duration of the impending trial.

After visiting him in prison, Khan's attorney spoke of his client's mood:

William W. Taylor III, Attorney for Dominique Strauss-Kahn, said, "We're confident there will be a hearing tomorrow, we just don't know what time.His mood was good. It was serious, but good. He is a strong man and he's committed to seeing this through."

While there have been some concerns over how a change of leadership could affect the IMF, many Europeans see Strauss-Khan's departure as a positive step.

Dominique Strauss-Kahn has resigned from his post as Managing Director of the
International Monetary Fund. The former chief is currently being detained on
sexual assault charges, ahead of a second bail hearing.

Robert Halver, Stock Trader, Baader Bank AG, Germany, said, "It's good that Mr. Strauss-Kahn has resigned, as we need tranquillity on that front. It's just as important to find a successor so the IMF can function properly again. We face difficult times, and Europe needs further help for Greece. So the IMF can't be absent."

Khan's resignation was seen by many as inevitable, whether his bail was granted or not. Maintaining such a high level position under restrictive bail conditions would have been a tough ask.

Continuing his duties from a jail cell would have been impossible.

Dominique Strauss-Kahn has resigned from his post as Managing Director of the
International Monetary Fund. The former chief is currently being detained on
sexual assault charges, ahead of a second bail hearing.

Dominique Strauss-Kahn has resigned from his post as Managing Director of the International Monetary Fund. The former chief is currently being detained on
sexual assault charges, ahead of a second bail hearing.

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