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The position of International Monetary Fund (IMF) chairwoman Kristalina Georgieva is under pressure from her former boss at the World Bank over corruption in political interference.
Georgieva, 68, a Bulgarian who switched from the World Bank to the IMF in 2019, has been accused of tampering with World Bank rankings. Make business easier. It mapped out to each country what barriers there are to doing business. According to the World Bank, the higher the country index, the easier it is to trade.
Georgieva and her colleagues would have seen China fall in the 2018 rankings. Poor rating in the index Wilmer Hale, American law firm.
Following the release of this report mandated by the World Bank, the World Bank decided earlier this month Stop completely With rankings. The index – often cited as an indicator of a country’s investment climate – has been controversial for some time: it is subject to manipulation.
The report also outlines politically motivated changes in the 2020 rankings for Azerbaijan, Saudi Arabia and the United Arab Emirates. With it Ranking Nothing can be done without Georgia.
‘Key Roll’
The Wilmer Hale report accuses Georgia of playing a key role in “data changes for China”. A senior employee who confused the data – preventing China from moving from 77th to 85th place in 2018 – was thanked by Georgia. He reportedly went to a manager’s house shortly before the rankings were released to see the paper version, “implicitly” to check for changes, the Wilmer Hale report says.
According to the report, Georgia was very keen to maintain good relations with China. The World Bank, which is based on the capital of member countries, believed that the Chinese would deposit more money. However, the Chinese would not be happy to be at their lowest point on the ‘doing business’ list and at risk of falling further and further.
Also read Georgieva’s (2019) profile: The name Georgia prevails in every important place
Georgie vehemently denies the allegations made in the statement. He told the IMF board in a statement that they were “lying” and “lying”, from which news agencies quoted last Friday. He says he intervened to prevent it from dealing with Chinese data. According to Georgieva, China will emerge better as then-World Bank President Jim Kong Kim’s staff suggested adding Hong Kong’s data to China’s. Kim declined to comment to news agencies about Georgia’s allegations.
Call to resign
Key member states such as the IMF and the World Bank, as well as the United States and China, have not yet commented on the matter. But the most influential British weekly magazine Economist Georgie shouted last week In a consideration To resign.
As head of the IMF, she believes the IMF’s “credibility” is in jeopardy, according to the weekly that she can no longer make credible decisions on issues surrounding China.
And US Congresswoman Maxine Waters, head of the U.S. Finance Ministry, talks about China’s “false influence” on the World Bank and believes Georgieva’s position in the IMF is now “under discussion.”
The fall of the International Monetary Fund (IMF) on October 11-17 in Washington is in danger of being overshadowed by this scandal.
A version of this article also appeared on NRC Handlesplot on 28 September 2021
A version of this article also appeared in the NRC on the morning of September 28, 2021
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