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IMF Board Decides to Keep Georgieva as Chief After Data...

Business Maverick

Business Maverick

IMF Board Decides to Keep Georgieva as Chief After Data Scandal

Kristalina Georgieva, managing director of the International Monetary Fund (IMF), gestures as she speaks during a panel session on the closing day of the World Economic Forum (WEF) in Davos, Switzerland, on Friday, Jan. 24, 2020. World leaders, influential executives, bankers and policy makers attend the 50th annual meeting of the World Economic Forum in Davos from Jan. 21 - 24.
By Bloomberg
12 Oct 2021 0

Kristalina Georgieva will remain as head of the International Monetary Fund after the lender’s board reviewed accusations that she improperly influenced a World Bank ranking of China’s business climate and reaffirmed its full confidence in her.

The fate of Georgieva — a Bulgarian economist and the first person from an emerging-market nation to run the IMF — had been in limbo since Sept. 16. A report written by law firm WilmerHale and commissioned by the World Bank, her previous employer, asserted that she pressured subordinates to boost China’s position in the bank’s influential “Doing Business” report.

“The executive board considered that the information presented in the course of its review did not conclusively demonstrate that the managing director played an improper role regarding the Doing Business 2018 Report when she was CEO of the World Bank,” the fund said in a statement following board deliberations Monday.

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