• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

IMF’s Georgieva wins some European backing as board debates her future

October 8, 2021 by David Barret Leave a Comment

October 8, 2021

By David Lawder and Andrea Shalal

WASHINGTON (Reuters) -Some European governments on Friday backed Kristalina Georgieva to remain International Monetary Fund managing director as the IMF board debated her alleged role in a World Bank data-rigging scandal, people familiar the matter said.

A French finance ministry source told Reuters that France planned to voice support for Georgieva at the board meeting. Britain, Germany and Italy were also expected to back Georgieva, another source briefed on the matter said.

Officials at the French, British and German embassies in Washington had no immediate comment. The Italian embassy did not immediately respond to request for comment.

But hopes for the board to reach consensus quickly on her future at the global crisis lender appeared to be fading amid uncertainty over the U.S. position. An IMF executive board meeting continued for hours behind closed doors.

Some officials wanted more time to review documents and discrepancies between accounts by Georgieva and the WilmerHale law firm, people familiar with the effort said.

WilmerHale’s investigation report prepared for the World Bank board https://ift.tt/3zbAmNv alleged that when Georgieva was World Bank chief executive in 2017, she applied “undue pressure” on bank staff to make data changes to the flagship “Doing Business” report to boost China’s business-climate ranking.

The IMF board was reviewing the claims and this week conducted lengthy interviews of both Georgieva and lawyers from WilmerHale.

Georgieva has strongly denied https://ift.tt/3Bq2Uod the allegations. Her lawyer claims https://ift.tt/3j2ncgD that the WilmerHale probe violated World Bank staff rules in part by denying her an opportunity to respond to the accusations, an assertion that WilmerHale disputes.

VOICING SUPPORT

Georgieva also has received a statement of support https://ift.tt/3uvkS6f from African finance ministers.

But the U.S. Treasury, an important IMF power, declined to comment on Friday.

Treasury spokesperson Alexandra LaManna said earlier this week that the department has “pushed for a thorough and fair accounting of all the facts” in the ongoing review. “Our primary responsibility is to uphold the integrity of international financial institutions,” she said.

The IMF chief has traditionally been chosen by European governments, with the U.S. administration nominating the World Bank’s president.

France in 2019 backed Georgieva, a Bulgarian economist who has served in senior European Commission posts, as a compromise candidate to break a deadlock over the successor to Christine Lagarde, now European Central Bank president.

ANNUAL MEETING CLOUDS

The IMF board deliberations occurred as the Fund prepares for its biggest policy event next week, the IMF and World Bank annual meetings in Washington. The issue is expected to dominate the meetings.

Current and former staff from both institutions said that no matter who is to blame for the altered data, the scandal has dented their research reputations https://ift.tt/3iEbJmY, raising critical questions over whether that work is subject to member country influence.

Anne Krueger, a former World Bank chief economist and IMF first deputy managing director, on Thursday argued in a blog post https://ift.tt/3FsF4KO? that Georgieva must step down to restore the Fund’s credibility.

“Should Georgieva remain in her position, she and her staff will surely be pressured to alter other countries’ data and rankings,” Krueger wrote. “And even if they resist, the reports they produce will be suspect. The entire institution’s work will be devalued.”

(Reporting by David Lawder and Andrea Shalal in Washington; Additional reporting by Leigh Thomas in Paris and Bart Meijer in Amsterdam; Editing by Marguerita Choy and Cynthia Osterman)

Source Link IMF’s Georgieva wins some European backing as board debates her future

David Barret
David Barret

Related posts:

  1. Athletics-Tamberi hopes to finish season on a high in Zurich
  2. Alleged victim of Madrid homophobic attack says injuries were consensual – Interior Ministry
  3. JPMorgan Chase acquires college financial planning platform Frank
  4. Wall Street tumbles as rising Treasury yields sink Big Tech

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Unethical Experiments: When Scientists Really Should Have Stopped What They Were Doing Immediately
  • The First Humans Were Hunted By Leopards And Weren’t The Apex Predators We Thought They Were
  • Earth’s Passage Through The Galaxy Might Be Written In Its Rocks
  • What Is An Einstein Cross – And Why Is The Latest One Such A Unique Find?
  • If We Found Life On Mars, What Would That Mean For The Fermi Paradox And The Great Filter?
  • The Longest Living Mammals Are Giants That Live Up To 200 Years In The Icy Arctic
  • Entirely New Virus Detected In Bat Urine, And It’s Only The 4th Of Its Kind Ever Isolated
  • The First Ever Full Asteroid History: From Its Doomed Discovery To Collecting Its Meteorites
  • World’s Oldest Pachycephalosaur Fossil Pushes Back These Dinosaurs’ Emergence By 15 Million Years
  • The Hole In The Ozone Layer Is Healing And On Track For Full Recovery In The 21st Century, Thanks To Science
  • First Sweet Potato Genome Reveals They’re Hybrids With A Puzzling Past And 6 Sets Of Chromosomes
  • Why Is The Top Of Canada So Sparsely Populated? Meet The “Canadian Shield”
  • Humans Are In The Middle Of “A Great Evolutionary Transition”, New Paper Claims
  • Why Do Some Toilets Have Two Flush Buttons?
  • 130-Year-Old Butter Additive Discovered In Danish Basement Contains Bacteria From The 1890s
  • Prehistoric Humans Made Necklaces From Marine Mollusk Fossils 20,000 Years Ago
  • Zond 5: In 1968 Two Soviet Steppe Tortoises Beat Humans To Orbiting Around The Moon
  • Why Cats Adapted This Defense Mechanism From Snakes
  • Mother Orca Seen Carrying Dead Calf Once Again On Washington Coast
  • A Busy Spider Season Is Brewing: Why This Fall Could See A Boom Of Arachnid Activity
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version