Dominique Strauss-Kahn has resigned from his post as Managing Director of the International Monetary Fund. The former chief is currently being detained on sexual assault charges, ahead of a second bail hearing. But it's an allegation he strenuously denies.

 

A voluntary departure but an inevitable one, for embattled former IMF chief, Dominique Strauss-Kahn.

The IMF managing director stepped down from his post on Wednesday. His letter of Resignation spoke of his "infinite sadness", at having to leave his post.

But the regret stops there. Strauss-Kahn strongly denies the sexual assault charges brought against him, and says he will devote all his strength, time and energy to proving his innocence.

The announcement comes on the eve of Kahn's second bail hearing, in which his defense team is proposing a one million US dollar bond, and confinement to a Manhattan residence, for the duration of the impending trial.