The IMF chief has denied attempts to boost China in the World Bank’s rankings

Updates of the International Monetary Fund

Despite her resignation, Kristalina Georgieva has intensified her fight for the IMF leadership, denying that she has unreasonably pressured World Bank staff to change its ranking for the benefit of China.

“Let me be clear: the decisions are wrong. I did not pressure anyone to change the report,” Georgieva said in a statement on Friday.

The IMF board’s comments came as a result of a report released by the World Bank last week that sent shockwaves through Washington-based multilateral financial institutions.

The report, written by Wilmer Hale’s lawyers, details Georgieva’s alleged efforts to revise its ranking in the World Bank’s annual Doing Business report at 201 Bank, when he served as its chief executive after pressure from officials in Beijing to improve China’s position. Has negotiated a multi-billion dollar capital increase.

“There are no problems with the World Bank’s financing,” Georgieva said in a statement on Friday. “It was my professional responsibility to review the integrity of this report, and, contrary to what has been reported, I have followed all protocols for editing the report.”

Georgieva said she was looking forward to briefing the IMF board on the results “soon”. The executive directors, representing the fund’s shareholders, have so far considered the allegations without coming to a definite decision.

Many governments in the United States, including the Biden administration, have not said whether they have confidence in Georgia’s ability to continue working.

The IMF chief said that while at the World Bank, he had asked his team to “ensure accuracy” in the ranking of the Doing Business report.

Georgieva writes, “Data is integral to the organizations I have led in my public service career and I will never advocate changing data for political purposes.”

He also reiterated his priorities for his current role with the annual meetings of the IMF and the World Bank in mid-October: Was not very important.

But Georgieva acknowledged that the allegations against her – as well as her non-public response to the public outcry last week – had caused dissatisfaction among IMF staff.

Georgieva said, “As much as I have tried to be open and inclusive, I am very sorry to know that some employees have felt that their concerns have not been heard.” “Going forward, I will make sure to be more attentive to listening to staff feedback. And I will make sure that we have accessible channels for our colleagues to express this opinion. A strong exchange of ideas and opinions is essential for a strong work environment.

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