Thursday, September 16, 2021 20:05
WASHINGTON (AP / RTR / BLOOMBERG) – International Monetary Fund (IMF) top woman Kristalina Georgieva has been accused of pressuring China to improve its position in the country. It’s about an incident that happened when he was still a top official at the World Bank. The allegations come from a law firm that conducted research on behalf of the World Bank.
China ranks 78th in the October 2017 report on international trade. But in fact the Asian country should be seven places lower, which came to light later. Georgia is said to have pressed from the top of the World Bank for some amendments that would make China a little better. During that period, the World Bank worked on increasing capital for its own company, in which China had to play a key role.
According to the World Bank, one of the reasons why so-called business news with rankings may not continue in the future. Important protocol boundaries are crossed.
Georgia “basically disagreed” with the law firm’s allegations. Moreover, the Bulgarian noted that he had already discussed the matter with the IMF Board, which he has been chairing since 2019.
The U.S. government says these are “serious discoveries.” A Treasury spokesman said the United States was still investigating the matter. Washington considers it its responsibility to safeguard the integrity of international financial institutions. Both the IMF and the World Bank are headquartered in the US capital.
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