The former chief of the International Monetary Fund (IMF) Dominique Strauss-Kahn has agreed to pay a New York hotel maid who accused him of sexually assaulting her €4.6 million.

Nafissitou Diallo accused him of sexually assaulting her in a luxury New York City hotel last May.

French media is today reporting the out of court settlement bringing an end to the 18-month saga that brought down one of the most prominent political figures in France.

Strauss-Kahn had been  tipped to win the French Presidential election this year before the assault allegations emerged.

Diplomatic immunity rejected

Diallo had sued Strauss-Kahn in New York civil court after prosecutors threw out assault charges filed against the politician saying the sex assault case would not stand up before a jury.

Charges were dropped and Strauss-Kahn left for France where his new round of legal problems was about to begin.

His lawyers have repeatedly said they would not agree to a deal to pay-off Diallo while her lawyers have equally often insisted that they only want their day in court to confront Strauss-Kahn.

Strauss-Kahn had tried to claim diplomatic immunity in the civil case but a judge rejected that move in May.