Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

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.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
U.S. and China Agree on Framework to Shift TikTok to American Ownership
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
The New Life of Novak Djokovic
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Vatican hosts first Catholic LGBTQ pilgrimage
Apple Unveils iPhone 17 Series, iPhone Air, Apple Watch 11 and More at 'Awe Dropping' Event
France joins Eurozone’s ‘periphery’ as turmoil deepens, say investors
France Faces New Political Crisis, again, as Prime Minister Bayrou Pushed Out
Nayib Bukele Points Out Belgian Hypocrisy as Brussels Considers Sending Army into the Streets
France, at an Impasse, Heads Toward Another Government Collapse
The Country That Got Too Rich? Public Spending Dominates Norway Election
EU Proposes Phasing Out Russian Oil and Gas by End of 2027 to End Energy Dependence
More Than 150,000 Followers for a Fictional Character: The New Influencers Are AI Creations
EU Prepares for War
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
×