IMF retains managing director

Bulgarian Kristalina Georgieva defended her position as managing director of the International Monetary Fund (IMF), gaining the support of the institution’s board of directors, but she was deeply distressed by these weeks of investigations.

M. question of holdingMe Georgieva, 68, head of the IMF, was asked on 16 September at the request of the World Bank’s ethics committee following the publication of the findings of an investigation conducted by law firm WilmerHale. The leader was accused of manipulating a report in favor of China. He has always denied the facts.

“The Board of Directors recognized that the information presented during its review does not conclusively demonstrate that the Chief Executive Officer has played an improper role in relation to the report. doing business 2018 When she was the Managing Director of the World Bank”According to an IMF press release.

“After examining all evidence presented, the Board of Management reaffirms its full confidence in the leadership and the ability of the Director-General to effectively carry out his duties”, Add text.

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« Episode Difficult »

The announcement comes as the IMF and World Bank begin their fall meeting on Monday against the backdrop of their integrity issue. Governing bodies say they believe “In Engagement” M . NSMe Georgieva “To maintain the best standards of governance and integrity at the IMF”.

However, the Board of Directors plans to meet in the future. “Examining potential additional measures to ensure robustness” with regard to the integrity of the institution.

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For his part, MMe Georgieva told that this was the case “A difficult episode on a personal level” confirming that the facts were “baseless”.

“As the IMF meets this week, I am honored to lead such a talented team that works tirelessly to tackle the world’s biggest challenges, from the fight against Covid-19 to climate change.” till the fight against and against economic inequalities”, she also reacted.

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European support in the face of US reluctance

The matter has deeply divided the 24 members of the IMF’s executive board. While France, the United Kingdom and Europe have more broadly expressed their support for Mr.Me Georgieva, the United States was more reluctant to keep her in office.

And so it was only at the end of almost four weeks of discussion that the United States ended the rally for the Europeans who wanted toMe Georgieva. The IMF said it had reviewed ” Fully “ And ” aim “ In this case, a total of eight meetings.

In the meeting with the council, Mr.Me Georgieva had mourned “Mistakes and misconceptions made by the report’s authors”. At the same time, it was supported by former World Bank officials and renowned economists including Nobel laureate Joseph Stiglitz.

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For its part, the US Treasury had blown the cold by stressing the importance of having “A complete and unbiased report on all facts”. “Our primary responsibility is to maintain the integrity of international financial institutions”, explained Alexandra Lamanna, a spokeswoman.

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Ms Georgieva took over as the head of the fund on October 1, 2019, replacing French woman Christine Lagarde, who was appointed to the European Central Bank. Then she was the only candidate for the post.

According to the division of roles inherited from the creation of the Bretton Woods institutions, the Fund is traditionally headed by a European while the World Bank is currently held by an American, David Malpass. In 2019, IMF officials, however, had to change statutes to be able to confirm the appointment of Ms Georgieva, who was over the age limit, then set at 65.

AFP. world with

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