Given that international pressure grows for Georgieva to resign from her position at the head of the IMF the Executive Board “Remains committed to a thorough, objective and timely review.”
In this regard, it clarifies that “although it has made significant progress in its evaluation, at today’s meeting it agreed to request more clarifying details with a view to concluding its consideration of the matter very soon”
Next week the annual meeting of the Fund will take place in Washington and in the midst of this complaint Georgieva will lead the plenary meetings.
A week ago the executive board held meetings with representatives of the WilmerHale law firm who were the ones who investigated the alleged anomalies in the World Bank’s 2018 Doing Business report.
WilmerHale’s research pointed out that the CEO of the World Bank, then Georgieva, implemented a “undue pressure” on Bank staff to boost China’s ranking in the “Doing Business 2018” report. At that time, the World Bank was reportedly trying to obtain a capital increase from China.
The result of this investigation led the World Bank to cancel the Doing Business that had been published since 2003. One of the organizations that came out to question Georgieva’s role in this matter was none other than the United States Department of the Treasury, which He indicated that he was analyzing what he described as “serious findings.”
Criticism on the issue led to The Economist magazine directly calling for Kristalina’s resignation. The arguments they used are quite reasonable, according to international economists, “the Fund has an influential research department of its own. It is also the custodian of data standards for world macroeconomic statistics,” the article said.
Just this week the economic analysis of the members of the Fund (about 190 countries) contained in their traditional report will be released “World Economic Outlook (WEO)”.
Georgieva’s request for removal is based on the fact that there are no doubts as to the objectivity of the reports prepared by the Fund, experts in Washington explain.
The head of the IMF Georgieva, at the time, rejected the complaint, noting that “I essentially disagree with the findings and interpretations of the Data Irregularity Investigation, as it relates to my role in the World Bank’s 2018 Doing Business report.”He said in a brief statement.
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