IMF board will not remove Georgieva from the post of chief
The International Monetary Fund (IMF) has expressed “complete confidence” in its managing director Kristalina Georgieva over allegations that World Bank employees are pressuring China to change its business rankings. The 24-member executive board of the IMF (International Monetary Fund) said in a statement that its review did not conclusively find that Managing Director Kristalina Georgieva had served as a top World Bank official. No wrong action in his former role.
According to the statement, after perusing all the evidence presented, the Executive Board reaffirmed its full confidence in the leadership of the Managing Director and in his ability to effectively continue his duties. However, it said that possible misconduct by World Bank employees is being investigated.
Allegations of discrepancies in the Doing Business report denied
Georgieva has denied allegations that she played a role in coercing employees to change data affecting China and other countries’ ease of doing business rankings. Earlier, the IMF was informed in this regard by the lawyers of WilmerHale, a legal services provider investigating the irregularities related to China’s ranking in the World Bank’s ‘Doing Business Report’.
The investigation found that the IMF’s current managing director Kristalina Georgieva and other officials pressured World Bank employees to change data affecting trade rankings in China and other countries.
What is Doing Business Report?
The Doing Business Report (Ease of Doing Business Report) ranks countries after evaluating their tax burden, bureaucratic constraints, regulatory systems and other business conditions, and this ranking is used by some countries to attract investment. have been doing to.
Because of the investigation, the World Bank stopped publishing the annual Doing Business Report. After the incident, there is a demand for Georgivi’s resignation.
India had jumped 14 places to 63rd position in the Ease of Doing Business Ranking-2020. India’s ranking has improved by 79 places from 2014 to 2019.
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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.