Head of IMF resigns

Strauss-Kahn addressing UN General Assembly in 2010

The Managing Director of the International Monetary Fund (IMF) Dominique Strauss-Kahn has resigned.

Mr. Stauss-Kahn, who is facing charges of sexually assaulting a hotel employee in New York, informed the IMF Executive Board of his intention to step down with immediate effect. 

He says he wants to protect this institution which he has "served with honour and devotion"

 Mr. Strauss stresses that he wants to devote all his strength, time and energy to proving his innocence. 

The IMF, based in Washington D.C., monitors global financial developments to help ensure stability and also lends money to countries facing financial difficulties.

Filed under Today's News.
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