IMF chief Georgieva stays on, board dismisses allegations

Kristalina Georgieva

IMF managing director Kristalina Georgieva

Agency Report

The International Monetary Fund (IMF) has expressed its “full confidence” in its managing director Kristalina Georgieva , dismissing the allegations about China bias.

According to reports, she was alleged to have manipulated a report in China’s favour during her time at the World Bank.

Georgieva who was the World Bank’s chief executive before joining the IMF in late 2019, denied the allegations.

In a statement issued by the IMF’s Executive Board, the information presented as it reviewed the allegations “did not conclusively demonstrate that [Georgieva] played an improper role regarding the Doing Business 2018 Report when she was CEO of the World Bank.”

“Having looked at all the evidence presented, the Executive Board reaffirms its full confidence in the Managing Director’s leadership and ability to continue to effectively carry out her duties,” the statement said.

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Furthermore, it stated that the board trusts Georgieva’s “commitment to maintaining the highest standards of governance and integrity in the IMF.”

The clearance comes after the fund’s board met eight times to review the matter.

A report published in September prepared by the law firm WilmerHale and requested by the World Bank’s ethics committee said that during her time at the bank, “Georgieva became directly involved in efforts to improve China’s ranking” in the Doing Business Report.

Georgieva was accused of having put pressure on employees in 2017 to prevent China from slipping in the World Bank’s “doing business” ranking, according to the WilmerHale report.

Dpa