Decision on whether to retain Georgieva as head of IMF “very soon”

Decision on whether to retain Georgieva as head of IMF “very soon”

The IMF’s executive board will vote “very soon” on whether or not to retain its managing director, Kristalina Georgieva, who was accused of manipulating data from a report in favor of China when she became the managing director of Bank Global. She was

After a meeting on Friday, the Council of the International Monetary Fund reported “significant progress” in understanding the issue, but agreed to “take further details with a view to reaching a conclusion very soon”, a spokesman said. According to a statement of .

The council could meet again on Saturday, a source familiar with the matter told AFP on condition of anonymity, adding that Georgieva had received support from France and more broadly European member states.

Two sources familiar with the matter said the United States, a key member of the IMF, has so far not let its situation worsen and seems reluctant to give its consent.

Time is running out as the IMF and the World Bank begin their meeting on Monday.

US Treasury spokeswoman Alexandra Lamanna told AFP: “A review is currently underway with the IMF’s board of directors and the Treasury has asked for a full and unbiased report of all facts.” “Our primary responsibility is to maintain the integrity of international financial institutions,” she said.

The question of whether Mrs Georgieva, 68, remains as head of the international body, has been raised since the publication in mid-September of the findings of an investigation by the law firm WilmerHale, This was done at the request of the Ethics Committee of the World Bank.

– “Quick Solution” –

The investigation revealed irregularities in the drafting of the 2018 and 2020 editions of the World Bank’s “Doing Business” report. And, its authors accused Kristalina Georgieva as managing director of the World Bank of pressurizing her teams so that China receives a more favorable ranking.

Ms Georgieva, of Bulgarian origin and an economist by training, vehemently denies the allegations against her.

“I have answered all my questions and I remain at the disposal of the Board of Directors as they conclude discussions as quickly as possible so that we can focus on the all-important decisions that our Member States await during the annual meetings. ,” she commented in a statement Friday evening.

He was heard by the board of directors on Wednesday. It then denounced “inaccuracies and misconceptions made by the authors of the report”.

This survey “(report)+ does not accurately describe my actions in relation to Doing Business 2018+, nor does it adequately reflect who I am or how I have conducted my long professional career. He submits did.

He then wished for “rapid solutions” to maintain the strength of multilateral institutions, noting that they had “important missions to accomplish” in times of unprecedented crisis.

Ms Georgieva took over as head of the fund on October 1, 2019, to replace Christine Lagarde, who was appointed to the European Central Bank.

She was the only candidate then.

Publication of the “Doing Business” report was immediately suspended following the disclosures by the firm WilmerHale.

The study, which examines countries’ regulatory frameworks to find out which businesses are most conducive to starting, has been the subject of many controversies, leading to the resignation of the bank’s chief economist Paul Romer.

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