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‘Data-rigging scandal won’t hamper IMF-World Bank cooperation’

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, said yesterday that she did not expect a data-rigging scandal involving her former employer, the World Bank, to hamper decades of close collaboration between the two institutions. Georgieva, who was cleared of wrongdoing in the matter by the IMF’s executive board on Monday, had sharply criticised a report prepared by law firm, WilmerHale, for the World Bank’s board and the decision to make its findings public.

The law firm’s investigative report alleged that Georgieva and other senior World Bank officials applied “undue pressure” on bank staff to make changes to boost China’s ranking in the bank’s 2018 business climate report.

Georgieva vehemently denied the accusations and she and her lawyer faulted WilmerHale for not telling her she was a subject of the probe. According to Reuters, some of her backers, including Nobel Prize-winning economist Joseph Stiglitz called the report a “hatchet job” by World Bank President, David Malpass, and Mark Weisbrot, co-director of the Center for Economic and Policy Research, called for Congress to investigate Malpass’s actions in the matter. Georgieva, a longtime World Bank official, told reporters that collaboration between the bank had been “strong for decades” and would remain so

 

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