#IMF Chief Georgieva To Stay on Despite Allegations


The supervisory body of the International Monetary Fund (IMF) expressed its “full confidence” in managing director Kristalina Georgieva amid allegations she was involved in manipulating a report in China’s favour during her time at the World Bank.

The IMF’s Executive Board said in a Monday statement that 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, adding that the board trusts Georgieva’s “commitment to maintaining the highest standards of governance and integrity in the IMF.”

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 is 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.

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

The IMF statement said the fund’s board met eight times to review the matter.

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