IMF Backs MD On Alleged Manipulation Of Data In Favour Of China

The International Monetary Fund has backed its Managing Director, Kritalina Georgieva, on the allegation that she pressured staff to manipulate data in favour of China back in 2018.

The apex body of the IMF revealed this after the eighth board meeting on the case involving Georgieva who allegedly aided the manipulation of the Doing Business 2018 Report in favour of China.

The embattled MD was accused of helping China influence the Doing Business 2018 Report when she was the CEO of the World Bank.

“The Executive Board considered that the information presented in the course of its review did not conclusively demonstrate that the Managing Director played an improper role regarding the Doing Business 2018 Report when she was CEO of the World Bank,’ the Board resolved.

WilmerHale alleged that Georgieva and other senior officials applied “undue pressure” on bank staff to make changes to boost China’s ranking in the 2018 report.

They said the motive was because the IMF was seeking China’s support for a major capital increase.

The decision did not please the US and Japan who have pressured for her resignation.

US Treasury Secretary Janet Yellen said Georgieva would still be under close monitoring.

But the IMF Board maintained, “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 Board trusts in the Managing Director’s commitment to maintaining the highest standards of governance and integrity in the IMF.

“The Executive Board also reiterates its own commitment to supporting the Managing Director in maintaining the highest standards of governance and integrity in the data, research, and operations of the IMF and has confidence in the impartiality and analytical excellence of IMF staff and in the IMF’s robust and effective channels for complaint, dissent, and accountability.”