IMF chief Strauss-Kahn resigns

IMF managing director Dominique Strauss-Kahn has resigned following being charged earlier this week with alleged sexual assault.

In a brief letter to the IMF executive board late Wednesday, Dominique Strauss-Kahn proclaimed his innocence.

He said he was stepping down 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.”

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

The statement added that the IMF would announce in the near future on the executive board’s process of selecting a new managing director. Meanwhile, John Lipsky remains acting managing director.

The resignation came as his attorneys are preparing to appeal for today to New York’s Supreme Court to release their client on bail.