IMF Chief Strauss-Kahn Resigns Amid Sex Charges

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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.


NPR's business news starts with the IMF chief quitting.

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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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