WASHINGTON, Dec 18 — The International Monetary Fund’s Executive Board yesterday said it has formed a steering group to lead a review to improve institutional safeguards on data and governance after clearing IMF Managing Director Kristalina Georgieva of wrongdoing in a World Bank data-rigging scandal.
Georgieva was accused in September of putting “undue pressure” on World Bank staff in 2017, when she was the lender’s CEO, to alter data in its flagship “Doing Business” report to boost China’s ranking. After saying it had conducted a thorough review of the matter, the IMF board expressed its confidence in Georgieva and IMF staff in October, but said it would consider additional steps to “ensure the strength of institutional safeguards.”
Georgieva told the Reuters Next conference in early December that the Fund was looking at all of its research processes in order to ensure the data integrity and using independent evaluations to find areas for improvements.
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