Kristalina Georgieva, the managing director of the International Monetary Fund (IMF) has rejected the findings of an investigation into data irregularity of the World Bank’s Doing Business rankings.
In a brief statement, Georgieva said, “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.”
An independent investigation document released Thursday (16 September) also found that Kristalina Georgieva, who served as the bank’s chief executive officer from 2017 to 2019 applied “pressure” to have China ranked more favorably.
In a statement Thursday, the multilateral lender noted that complaints about the rankings had focused on “ethical matters,” including ones related to “current and/or former Bank staff,” and indicated that trust in the institution was on the line.
The concerns about data manipulation relate to the 2018 and 2020 editions, and they reportedly focused on China, Azerbaijan, the United Arab Emirates, and Saudi Arabia. The bank paused the annual rankings last year as the issues emerged.
In 2020, Saudi Arabia was named the top improving economy, despite signs of sharp repression, including the killing of journalist Jamal Khashoggi. China was also among the top 10 most improved countries.
The investigation noted that a senior staff member had changed Saudi Arabia’s data to “reward” the country. It also said that Georgieva “became directly involved in efforts to improve China’s ranking.” This included her encouraging changes to the methodology used for the ranking.
The investigation indicated that Georgieva saw this as key to keeping in Beijing’s good graces, thanking one official involved in the process for doing his “bit for multilateralism.”
The investigation noted specific “pressure” applied by the then-CEO and her adviser to make “specific changes to China’s data points in an effort to increase its ranking at precisely the same time the country was expected to play a key role in the Bank’s capital increase campaign.”
Asaase Radio 99.5 – tune in or log on to broadcasts online
99.5 in Accra, 90.7 in Ho, 98.5 in Kumasi, 99.7 in Tamale, 89.5 in Tarkwa and 106.9 in Walewale
Follow us on Twitter: @asaaseradio995
#AsaaseRadio
