PanamaTimes

Thursday, Mar 28, 2024

The IMF's chief denies tampering with World Bank data in order to appease China.

The IMF's chief denies tampering with World Bank data in order to appease China.

The IMF's chief denies tampering with World Bank data in order to appease China. Kristalina Georgieva, the IMF's president, challenged an independent review
The IMF’s chief denies tampering with World Bank data in order to appease China.

Kristalina Georgieva, the IMF’s president, challenged an independent review that showed she urged staff at the World Bank to change a report to avoid angering China in her former role.

Following an inquiry into the 2018 and 2020 editions of the Doing Business report, the World Bank stated on Thursday that it would be terminating it immediately.

The survey assesses countries based on their business regulations and economic reforms, and Beijing reportedly complained about its 78th place ranking on the list in 2017.

Beijing’s rating in the ease of doing business would have dropped even more in the 2018 report.

The staff of the Washington-based development lender was developing it while the organization’s leadership was involved in sensitive negotiations to boost its lending capacity, which necessitated a deal with senior members, including China.

According to the investigation by law firm WilmerHale, the World Bank’s then-president Jim Kim and Georgieva, the bank’s CEO at the time, met with their staff in the final weeks before the report’s release at the end of October 2017 and asked them to look into updating the methodology in regard to China.

According to the World Bank’s report of the investigation, Kim reviewed the rankings with senior Chinese officials who were dismayed by the country’s standing, and Kim’s aides broached the issue of how to improve it.

According to the report, which analyzed 80,000 documents and interviewed more than three dozen current and former World Bank employees, Georgieva chastised a senior official for “mishandling the Bank’s relationship with China and failing to appreciate the importance of the Doing Business report to the country.”

Under pressure from top management, workers modified some of the input data, boosting China’s score from 78 to 78 in 2018, the same as the year before.

According to the probe, Georgieva congratulated the senior World Bank official for “doing his part for multilateralism.” Georgieva later went to the manager in charge of the report’s house to get a copy and praise them for their assistance in “resolving the problem.”

Georgieva, a Bulgarian national who became the IMF’s managing director in October 2019, refuted the inquiry.

In a statement, she said, “I completely disagree with the conclusions and interpretations of the Investigation of Data Irregularities as they pertain to my position in the World Bank’s Doing Business report of 2018.”

“I have already received a preliminary briefing from the IMF. Brief News from Washington Newsday.
Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×