The IMF Executive Board reaffirms its full confidence in the Managing Director’s leadership 

WASHINGTON, DC, Oct 12 (The CONNECT) - The IMF Executive Board has brushed aside the allegations against its MD Kristalina Georgieva that she was involved in influencing to rig China’s rankings in the Doing Business Report in 2018.

The Board met eight times to consider the report by the World Bank’s ‘independent external review’ of the facts and circumstances around previously reported data irregularities in the 2018 and 2020 Doing Business reports’ done by law firm WilmerHale that concluded that Georgieva was directly involved in the rankings data.

In particular, the Executive Board had two extensive discussions each with the representatives of WilmerHale as well as with the Managing Director. The Executive Board also took note that the World Bank’s investigation of potential World Bank staff misconduct in the Doing Business report matter is ongoing.

The Executive Board of IMF met last night (IST) “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”.

“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 Board trusts in the Managing Director’s commitment to maintaining the highest standards of governance and integrity in the IMF,” an official statement said.

“The Executive Board also reiterates its own commitment to supporting the Managing Director in maintaining the highest standards of governance and integrity in the data, research, and operations of the IMF and has confidence in the impartiality and analytical excellence of IMF staff and in the IMF’s robust and effective channels for complaint, dissent, and accountability. At the same time, the Executive Board plans to meet to consider possible additional steps to ensure the strength of institutional safeguards in these areas,” it said.

Georgieva, on her part, said in an earlier media statement: “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. I have already had an initial briefing with the IMF’s Executive Board on this matter.”