Dominique Strauss-Kahn on Thursday informed the Executive Board of the International Monetary Fund (IMF) of his intention to resign as Managing Director with immediate effect. Strauss-Kahn made the following statement in a formal letter of resignation to the Board:

Ladies and Gentlemen of the Board:

It is with infinite sadness that I feel compelled today to present to the Executive Board my resignation from my post of Managing Director of the IMF.

I think at this time first of my wife-whom I love more than anything-of my children, of my family, of my friends.

I think also of my colleagues at the Fund; together we have accomplished such great things over the last three years and more.

To all, I want to say that I deny with the greatest possible firmness all of the allegations that have been made against me.

I want to protect this institution which I have served with honor and devotion, and especially-especially-I want to devote all my strength, all my time, and all my energy to proving my innocence.

(Signed) Dominique Strauss-Kahn.

The Fund will communicate in the near future on the Executive Board's process of selecting a new Managing Director. Meanwhile, John Lipsky remains the acting Managing Director of the fund.