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The IMF board’s decision on Georgia is pending as Reuters begins the IMF-World Bank annual meeting.


© Reuters File Photo: International Monetary Fund (IMF) Managing Director Kristalina Georgieva comments at the closing press conference of the International Monetary Fund during the 2019 annual meeting of the IMF and World Bank finance ministers.

Written by Andrea Shalal

WASHINGTON (Reuters) – The IMF-World Bank’s annual meeting was set to open on Monday after the IMF’s executive board failed to conclude a review after another marathon.

The IMF board met with Georgieva and law enforcement on Sunday, claiming that it pressured World Bank staff to change the data to boost China’s “Doing Business” ranking when he was World Bank CEO in 2017, the IMF said in a statement. “Tried to.

“The board has made significant progress today in its assessment so that the matter can be considered soon,” the fund said.

The two-member IMF board is scheduled to meet again on Monday to decide on Georges’ future, according to people familiar with the plan.

A source familiar with the talks expressed confidence that the IMF would be approved by the main board.

France and other European governments on Friday backed the Bulgarian economist to complete his term as head of the IMF, while U.S. officials and others called for more time to study various accounts of data irregularities in the World Bank’s now-defunct flagship “Doing Business” report.

The scandal has threatened to cast a shadow over high-profile meetings, where Georgia will play a key role in discussions with World Bank President David Malpas on global recovery from the Covid-1 pandemic epidemic, debt relief and rapid vaccination efforts.

Marathon session

The IMF’s executive board debated the issue for five hours before https://www.reuters.com/business/imf-board-debate-georgievas-future-with-some-backing-europe-sources-2021-10-08 on Friday Separate meetings on Sunday are being postponed and rescheduled. Those meetings lasted until late Sunday night.

Georgieva has vehemently refused to return to 2017, when she was chief executive of the World Bank. In October 2011, he became the managing director of the IMF.

WilmerHale’s investigation report, a PDF prepared for the World Bank’s board, alleges that Georgia exerted “unreasonable pressure” on bank employees at the time to change data to boost China’s ranking in the flagship “Doing Business” report, as the bank sought Beijing’s help for a head. Increase capital.

Georgievar’s lawyer says https://www.reuters.com/business/imf-chief-georgievas-lawyer-claims-data-probe-violated-world-bank-staff-rules-2021-10-07 Wilmerhall investigation violates World Bank Employees partially rule out denying the opportunity to respond to complaints, a firm claim that law enforcement disputes.

There was no immediate word from Georgia or law enforcement on Sunday’s meeting.

The Financial Times reported on Sunday that the United States and Japan wanted to fire Georgia, citing no specific sources.

The US Treasury, which controls 16.5% of the IMF’s shares, declined to comment on the FT report. There was no immediate comment from the Japanese embassy in Washington.

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