Dominique Strauss-Kahn, the embattled managing director of the International Monetary Fund, resigned Wednesday, saying he wanted to devote "all his energy" to battle the sexual assault charges he faces in New York.
Copyright ? 2011 National Public Radio?. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.
RENEE MONTAGNE, host:
NPR's business news starts with the IMF chief quitting.
(Soundbite of music)
MONTAGNE: The head of the International Monetary Fund, Dominique Strauss-Kahn, has resigned. The move was expected after he was charged with sexual assault of a New York City hotel maid.
Strauss-Kahn says he's innocent, but decided to step down to protect the institution. French finance minister Christine Lagarde is a leading contender to succeed Strauss-Kahn, but today China and Brazil called for a process based on merit to indicate their opposition to Europe's longtime lock on the position.
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Source: http://www.npr.org/2011/05/19/136453329/business-news?ft=1&f=3
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