The former managing director of the World Bank is accused of manipulation.
(Photo: dpa)
Washington According to insiders, the executive board of the International Monetary Fund (IMF) is standing behind the managing director Kristalina Georgiewa after investigating the allegations of data manipulation. The 24-member board of directors will issue a declaration of support for Georgieva, people familiar with the matter told Reuters news agency. The United States and Japan, the two largest shareholders in the fund, had warned against prematurely expressing confidence in the IMF head again, said one of the insiders.
The background is an investigation report by the law firm WilmerHale, according to which leading representatives of the World Bank – including its then managing director Georgiewa – are said to have exerted “inappropriate pressure” on employees in order to make China better in the ranking of the “Doing Business” report for 2018. China landed finally in 78th place, after initially being ranked 85th in the first draft.
The report assesses a country’s investment climate and business friendliness. At the time, the World Bank was trying to get support from the Beijing government for a major capital increase. Georgieva has already rejected the allegations, which go back to 2017, several times. In October 2019 she became Managing Director of the IMF.
According to its President David Malpass, the World Bank is working after the allegations to win back people’s trust. Some steps have been taken to achieve this, Malpass told journalists on. This includes the promotion of the chief economist Carmen Reinhart to a senior position. Analyzes are a high priority for the World Bank. Malpass declined to comment on the investigation into possible misconduct by the former managing director of the World Bank, the current head of the International Monetary Fund Georgieva.
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