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
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
×