WASHINGTON, Sept 17 — IMF chief Kristalina Georgieva on Thursday disputed an independent investigation which found that in her previous job at the World Bank, she pressed staff to alter a report to avoid angering China.
“I disagree fundamentally with the findings and interpretations of the Investigation of Data Irregularities as it relates to my role in the World Bank’s Doing Business report of 2018,” she said in a statement. “Our primary responsibility is to uphold the integrity of international financial institutions,” the statement said.
“The IMF is in charge of monitoring the integrity of macroeconomic and financial data internationally, and for the head of the IMF to have been involved in data manipulation is pretty damning allegation,” he told AFP. “That does seem like a real hit on their credibility.”The flagship report ranks countries based on their business regulations and economic reforms, and has caused governments to jockey for a higher spot to attract investors.
In the final weeks before the report was released at the end of October 2017, the World Bank’s then-president Jim Kim and Georgieva, at the time the bank’s CEO, asked staff to look into updating the methodology in regard to China, according to the investigation by law firm WilmerHale. The bargain required support from the US president at the time Donald Trump, who opposed concessional lending to China, and from Beijing, which agreed to pay more for loans.
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