The US has called for an open process for selection of the IMF chief so as to find a quick replacement of Dominique Strauss-Kahn, who resigned from the post after being arrested in New York on rape charges. Treasury Secretary Timothy Geithner said in a statement in Washington that the candidate should have the requisite, deep experience and leadership qualities to command broad support among the Fund’s membership.Meanwhile, the former IMF chief Strauss-Kahn has been released from the New York City jail, after he posted 1 million Dollar in bail and a 5 million Dollar insurance bond. State Supreme Court Justice assigned him to a temporary housing location in New York City. Armed guards will watch him, and he will be monitored electronically. Strauss-Kahn was accused of sexually assaulting a New York hotel maid last week and could face decades in prison if convicted.