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IMF Head Dominique Strauss-Kahn Resigns

6:56 AM, May 19, 2011 • By DANIEL HALPER
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The Wall Street Journal reports

Dominique Strauss-Kahn resigned as head of the International Monetary Fund, which he is widely credited with revitalizing at a pivotal time, throwing into high gear a global race to replace him following charges that he sexually assaulted a hotel worker in New York.

The 62-year-old Mr. Strauss-Kahn, in a statement released by the IMF shortly after midnight Thursday in Washington, said was leaving to "protect the institution," which has been largely paralyzed since he was arrested on suspicion of attempted rape in New York on May 14. In a letter to the IMF's board, he continued to deny that the charges against him. "I want to say that I deny with the greatest possible firmness all of the allegations that have been made against me," he wrote.

"I want to devote all my strength, all my time, and all my energy to proving my innocence," Mr. Strauss-Kahn said.

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