20/05/2011 12:59
IMF chief to be released on bail
Dominique Strauss-Kahn was granted bail on Thursday but faced another night in a New York jail, hours after he resigned as head of the IMF under the cloud of sex crime charges, Reuters reported.
His resignation intensified a diplomatic race for global finance's top job which has gone exclusively to Europe for the past 65 years but is now in the sights of fast-growing developing economies.
A judge granted Strauss-Kahn $1 million bail and ordered him to be detained in a New York apartment. He will be subject to electronic monitoring and under the watch of an armed guard, costing him $200,000 a month, a prosecutor said.