Strauss Kahn resigns

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Strauss Kahn, the International Monetary Fund chief, has offered to resign following an alleged sexual assault of a hotel maid in New York.

Kahn, 62, in his official statement says, that he has already informed the executive board of his intention to step down with immediate effect. He firmly denies the criminal charges levied against him.

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

The IMF would soon inform, on the selection process for the new chief and the organization is currently being run by John Lipsky.

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