News / Economy

Sex Charges Prompt IMF Resignation

International Monetary Fund (IMF) chief Dominique Strauss-Kahn appears in Manhattan Criminal Court during his arraignment in New York May 16, 2011
International Monetary Fund (IMF) chief Dominique Strauss-Kahn appears in Manhattan Criminal Court during his arraignment in New York May 16, 2011
Peter Fedynsky

Dominique Strauss-Kahn has resigned his powerful position as International Monetary Fund Chairman, while maintaining his innocence of sexual assault charges.

Related video report by Mariama Diallo

In a letter to the IMF board, Dominique Strauss-Kahn denies “with the greatest possible firmness" the allegations he sexually assaulted a hotel maid. He also writes that he wants to protect the institution that he says he "served with honor and devotion," and that he especially wants to devote all of his strength, time, and energy to proving his innocence.  

Strauss-Kahn adds that he feels compelled to resign with “infinite sadness.”  

Officials at New York's Rikers Island jail said earlier in the week that Strauss-Kahn was placed on a suicide watch. But one of his attorneys, William Taylor, described the defendant’s mood as good.

“It was serious, but good," said Taylor. "He is a strong man and he is committed to seeing this through."

Straus-Kahn’s resignation could spark a dispute over a successor. His deputy, John Lipsky, an American, will serve as acting managing director. But China, Brazil and South Africa are among the fast growing economies that want to break Europe’s traditional hold on the IMF’s influential top job.

German Chancellor Angela Merkel says developing economies have a legitimate claim in the medium term. But she adds urgent problems in the eurozone require a European IMF leader. Brazil's finance minister, Guido Mantega counters the position should be based on merit.

Strauss-Kahn has been held since Saturday, and his attorneys are asking the court to release him on $1-million bail. They say he has surrendered his passport and would stay at the home of his daughter, who is a student in New York.

Meanwhile, the Associated Press reports investigators have cut a piece of carpet from Strauss-Kahn’s hotel room in a search for DNA evidence.

The alleged victim is identified as a 32-year-old African immigrant from Guinea. Many of Strauss-Kahn’s supporters say he may have been the target of a character-assassination plot to preclude his bid for the presidency of his native France.

You May Like

Disappointing Report on China's Economy Shakes Markets

In London and New York shares lost 3 percent, while Paris and Germany dropped around 2.4 percent More

DRC Tries Mega-Farms to Feed Population

Park at Boukanga Lonzo currently has 5,000 hectares under cultivation, crops stretching as far as eye can see, and is start of ambitious large-scale agriculture plan More

Video War, Drought Threaten Iraq's Marshlands

Areas are spawning ground for Gulf fisheries, a resting place for migrating wildfowl, source of livelihood for fishermen and herders who have called the marshes home for generations More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Nobel Prize Winner Malala Talks to VOAi
X
August 31, 2015 2:17 AM
Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video Nobel Prize Winner Malala Talks to VOA

Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video War, Drought Threaten Iraq's Marshlands

Iraq's southern wetlands are in crisis. These areas are the spawning ground for Gulf fisheries, a resting place for migrating wildfowl, and source of livelihood for fishermen and herders. Faith Lapidus has more.
Video

Video Colombians Flee Venezuela as Border Crisis Escalates

Hundreds of Colombians have fled Venezuela since last week, amid an escalating border crisis between the two countries. Last week, Venezuelan President Nicolas Maduro ordered the closure of a key border crossing after smugglers injured three Venezuelan soldiers and a civilian. The president also ordered the deportation of Colombians who are in Venezuela illegally. Zlatica Hoke reports.
Video

Video Rebuilding New Orleans' Music Scene

Ten years after Hurricane Katrina inundated New Orleans, threatening to wash away its vibrant musical heritage along with its neighborhoods, the beat goes on. As Bronwyn Benito and Faith Lapidus report, a Musicians' Village is preserving the city's unique sound.
Video

Video In Russia, Auto Industry in Tailspin

Industry insiders say country relies too heavily on imports as inflation cuts too many consumers out of the market. Daniel Schearf has more from Moscow.
Video

Video Scientist Calls Use of Fetal Tissue in Medical Research Essential

An anti-abortion group responsible for secret recordings of workers at a women's health care organization claims the workers shown are offering baby parts for sale, a charge the organization strongly denies. While the selling of fetal tissue is against the law in the United States, abortion and the use of donated fetal tissue for medical research are both legal. VOA’s Julie Taboh reports.
Video

Video Next to Iran, Climate at Forefront of Obama Agenda

President Barack Obama this week announced new initiatives aimed at making it easier for Americans to access renewable energy sources such as solar and wind. Obama is not slowing down when it comes to pushing through climate change measures, an issue he says is the greatest threat to the country’s national security. VOA correspondent Aru Pande has more from the White House.
Video

Video Arctic Draws International Competition for Oil

A new geopolitical “Great Game” is underway in earth’s northernmost region, the Arctic, where Russia has claimed a large area for resource development and President Barack Obama recently approved Shell Oil Company’s test-drilling project in an area under U.S. control. Greg Flakus reports.
Video

Video Philippine Maritime Police: Chinese Fishermen a Threat to Country’s Security

China and the Philippines both claim maritime rights in the South China Sea.  That includes the right to fish in those waters. Jason Strother reports on how the Philippines is catching Chinese nationals it says are illegal poachers. He has the story from Palawan province.
Video

Video China's Spratly Island Building Said to Light Up the Night 'Like A City'

Southeast Asian countries claim China has illegally seized territory in the Spratly islands. It is especially a concern for a Philippine mayor who says Beijing is occupying parts of his municipality. Jason Strother reports from the capital of Palawan province, Puerto Princesa.
Video

Video Ages-old Ice Reveals Secrets of Climate Change

Ice caps don't just exist at the world's poles. There are also tropical ice caps, and the largest sits atop the Peruvian Andes - but it is melting, quickly, and may be gone within the next 20 years. George Putic reports scientists are now rushing to take samples to get at the valuable information about climate change locked in the ice.

VOA Blogs

World Currencies

EUR
USD
0.8916
JPY
USD
121.32
GBP
USD
0.6487
CAD
USD
1.3252
INR
USD
66.401

Rates may not be current.