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Monday, October 18, 2021

IMF board declares ‘full confidence’ in chief Kristalina Georgieva

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The International Monetary Fund’s executive board said it has “full confidence” in IMF Managing Director Kristalina Georgieva, amid allegations she skewed data during her time as chief executive of the World Bank to appease Beijing.

In a statement released Monday night U.S. time, the IMF board said the evidence “did not conclusively demonstrate” Georgieva “played an improper role” with regards to the World Bank’s annual Doing Business report for 2018. An inquiry published last month accused Georgieva of pressuring World Bank staffers to boost China’s ranking.

Georgieva, a former European Commission vice president, has repeatedly denied the inquiry’s findings, which according to her lawyer draw inappropriate and unsupportable inferences about her conduct and state of mind.

The IMF’s executive board has met on multiple occasions in an attempt to reach agreement on Georgieva’s fate.

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

The executive board “took note that the World Bank’s investigation of potential World Bank staff misconduct in the Doing Business report matter is ongoing.”

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