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IMF reaffirms “full confidence” in President Georgieva

KRISTALINA GEORGIEVA, MANAGING DIRECTOR OF THE IMF

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KRISTALINA GEORGIEVA, MANAGING DIRECTOR OF THE IMF

The IMF’s Executive Board on Monday reaffirmed its “full confidence” in the head of Washington-based crisis lender Kristalina Georgieva, keeping her as managing director after being accused of allegations of data tampering.

“Having considered all the evidence presented, the Board of Directors reaffirms its full confidence in the leadership and the ability of the Chief Executive Officer to continue to perform her duties effectively,” said the governing body of the institution. .

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An investigation by law firm WilmerHale concluded that the Bulgarian economist manipulated data in favor of China while in a senior position at the World Bank.

WilmerHale’s controversial findings center on the drafting of the 2018 and 2020 editions of the World Bank report ranking countries based on their ease of doing business.

The push came as the bank’s management was engaged in sensitive negotiations with Beijing over increasing the bank’s loan capital.

The IMF’s Executive Board said it “considered that the information presented during its review did not conclusively demonstrate that the Managing Director played an inappropriate role in relation to the Doing Business 2018 report when she was CEO of the World Bank.

Georgieva welcomed the decision, saying the allegations were ‘unfounded’. “

“It has obviously been a difficult episode for me personally,” said the 68-year-old, who took over as head of the International Monetary Fund in October 2019 after Christine Lagarde left as head of the European Central Bank.

“I wish to express my unwavering support for the independence and integrity of institutions such as the World Bank and the IMF; and my respect for all those who are committed to protecting the values ​​on which these organizations are founded.” , she said in a statement.

“I am delighted that after a full and impartial examination of the facts, the IMF Board recognizes that the allegations were unfounded. I would like to thank the Board for expressing its full confidence in my leadership,” he said. -she adds.

“Trust and integrity are the cornerstones of the multinational organizations that I have faithfully served for over four decades.

“The investigation deeply divided the 24 members of the IMF’s Executive Board. While France, Britain and other European countries have expressed support for Georgieva, the United States has been more reluctant to retain her.

It was only after nearly four weeks of discussions that Washington joined the Europeans in agreeing to retain Georgieva.

Originally from Sofia, she taught economics there for 26 years and gained environmental experience with an emphasis on agriculture and sustainable development.

Her main priorities at the IMF have been to fight inequalities and climate change, as well as to better integrate women into the economy.

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