Key Sentence:
- The IMF’s Executive Board announced the decision late Monday as the IMF’s annual meeting with the World Bank begins Monday in Washington, DC.
The decision resulted from an investigation into allegations. That Georgieva pressured World Bank officials to upgrade China’s Doing Business report to rank 78 from 85 in the 2018 edition.
The IMF’s Executive Board said in a press release that “information Kristalina Georgieva provided during. Its review did not show conclusively. That Georgieva “played an inappropriate role” in the 2018 Doing Business Index. And that she “has complete confidence in the fund’s leaders.”
The World Bank has ordered law firm WilmerHale to investigate allegations.
That Georgieva had pressured World Bank officials to upgrade China. Doing Business Kristalina Georgieva report to a ranking of 78 from 85 in the 2018 edition to alter China’s data. Georgieva and her adviser Simeon Djankov claim they are “urging”. The team responsible for compiling the rankings to “make specific changes to China’s data to improve China’s ranking while keeping the country a key role.”
Georgieva categorically denied the allegations, saying she “strongly disagreed” with the law firm’s findings, the IMF said in a statement. The board fell after board members met with representatives from Georgieva and WilmerHale Last Sunday and Friday; according to Reuters, Georgieva was Executive Director of the World Bank from January 2017 to September 2019. Before becoming Executive Director of the IMF.
Joseph Stiglitz, an aristocrat winner and former chief economist of the World Bank. Described the situation around Georgieva as a “coup” and the result. As “working with axes” in comments published in the online magazine Project Syndicate in late September. He went on to say that the results were the result of “those who are dissatisfied with the “progressive change” led by Georgieva. As they engage the IMF on climate change and place “less emphasis on saving, more on poverty and development” and “Already.” larger market boundaries.”