The International Monetary Fund expresses its “full confidence” in the leadership of Kristalina Georgieva

The IMF has decided to keep Kristalina Georgieva as managing director, despite allegations that she influenced a pro-China statement while at the World Bank.

The IMF Executive Committee held a review meeting on Monday Georgia reportedly pressured staff to improve China’s rating In the World Bank’s “Trade” rankings.

“After reviewing all the evidence presented, the Board of Executive Directors affirms its full confidence in the Executive Director’s leadership and ability to continue to perform his duties effectively,” the IMF said in a statement following the review.

The fund said the information provided during the review “does not conclusively demonstrate that the managing director played an inappropriate role.”

Separately, the Secretary of the Treasury Janet Yellen “There is no basis for a change in the leadership of the IMF without more direct evidence of the role of the Director-General,” the statement said.

Georgieva, head of the International Monetary Fund since October 2019.

Prior to that, he held the position of President of the World Bank since 2017. In this capacity, he led Wilmerhail’s law firm and requested the Bank’s Ethics Committee which influenced the outcome of some of the major investigations into the formation of China. Best.

“Georgia is directly involved in efforts to improve China’s rating,” Wilmerhill said in September during his tenure at the World Bank. [in the Doing Business Report]. “

Doing Business is the main part of the World Bank’s annual research that assesses the suitability of doing business in a country.

In the 2018 report, China ranked 85 at first, but after the influence of Beijing’s leadership and interventions; The country finished 78th, according to Wilmerhill.

“I do not agree with the findings and interpretations,” Georgieva said in a statement on September 16. [of the WilmerHale report]. “

Countries such as France, Germany, Italy and the United Kingdom are said to have supported Georgia to become a leader in the IMF. However, some US officials were somewhat skeptical.

In her statement Monday, Yellen said the Wilmerhill report raised “legal issues and concerns.”

Read the statement: “The United States believes that steps must be taken to enhance the integrity and reliability of data at the IMF.”

The World Bank said last month decided that Discontinue the “Doing Business” statement..

The bank said Wilmerhail’s report and its internal audit reports “raised ethical concerns, including the behavior of former board officials and current and/or former bank employees.”