World Bank links Georgieva to ‘fake’ China report figures

Get real time updates directly on you device, subscribe now.

THE The World Bank announced on Thursday that it would stop publishing the annual “Doing Business” reports, in which it analyzed the investment climate of each country, after a research Irregularities and “unwarranted pressure” were identified from top executives, including the former CEO Kristalina Georgieva, in order to take a better position in the ranking h China, in 2017.

In its announcement, the World Bank states that this decision was taken after the internal audit carried out raises “ethics issues»Regarding the behavior of its former and current executives.

The law firm also investigated the matter WilmerHale which, in its own report, states that “direct and indirect pressure” was exerted by high-ranking officials in the office of the then President of the World Bank, the American Jim Yong Kim, in order to change the methodology of the “Doing Business” report to change for the better the ranking of China. And most likely this was done under his guidance.

According to a WilmerHale report cited by Reuters in a report, Georgieva, the current director general of the International Monetary Fund (IMF), and a senior adviser pressured officials to “take concrete action.” changes China, at a time when the World Bank was seeking Beijing support for a major capital increase.

After the methodological changes were made, China found itself in 78th position in the ranking of the exhibition “Doing Business 2018”, ie won seven places compared to the original draft of the report.

Doing Business reports assessed each country’s investment environment, for example how easy it is to start a start-up or how good the infrastructure is.

“I fundamentally disagree with the findings and interpretations of the research on data irregularities regarding my role in the 2018 Doing Business report,” Georgieva said in a statement. He added that met with the IMF board to discuss the issue.

WilmerHale also found irregularities in the data used to determine its ranking Of Saudi Arabia and his Azerbaijan in the Doing Business 2020 report (published in 2019), but no evidence was found that senior or non-World Bank officials were involved in these changes.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.