Daily Management Review

IMF Board Meets To Discuss Role Of Georgieva In China Data Rigging Scandal


IMF Board Meets To Discuss Role Of Georgieva In China Data Rigging Scandal
According to the International Monetary Fund, its executive board got together on Tuesday to discuss and review a report that was prepared for the World Bank and one that has created a flutter within this global agency.
Made public last week, the report alleges that Kristalina Georgieva, the current chief of the IMF, had pressured her staff members while she was the chief executive officer of the World Bank, to make changes to the methodology for analysis of data so that the results would favour China in the bank’s list of countries in terms of doing business and the overall business environment
A spokesperson for the IMF said that the board had agreed to meet again soon to continue with the discussions and the alleged role of Georgieva. However, he did not give a specific date.
The spokesperson stated that the Board of the IMF had discussed the Ethics Committee's report so far, and has had a preliminary exchange on the report as well as the response of the Managing Director to the report and her briefing to the board.
According to the spokesperson, the board stressed "the importance it attaches to conducting a thorough and objective review in a timely manner and agreed to meet again soon to discuss further."
Georgieva had denied on Friday that she had imposed nay pressure on the staff at the World Bank during her tenure there and forced them to change data calculation and consideration methods during the preparation of its Doing Business 2018 report about country business climates.
"Let me simplify it for you. It is not true,” Georgieva reportedly had said according to reports quoting from a transcript of the meeting. Georgieva said that neither in this case nor before or afterwards, had she put any pressure on employees to manipulate data.
WilmerHale, a law firm, prepared an investigative report at the request from the World Bank's ethics Committee. It found that Georgieva, and other top World Bank officials, applied "undue Pressure" to staff in order to improve China's business climate ranking.