IMF: Kristalina Georgieva confirmed as head of the International Monetary Fund
IMF-WORLDBANK / ETHICS-GEORGIEVA REUTERS - POOL
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Bulgarian Kristalina Georgieva remains at the head of the IMF after receiving, Monday evening, the support of the board of directors of the International Monetary Fund.
She had been suspected of having manipulated a report to favor China when she was at the World Bank.
An accusation that she has always denied.
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The presidency of Mrs. Georgieva, 68, was shaken in mid-September, after the publication of an
investigation by the American law firm WilmerHale
, carried out at the request of the World Bank's ethics committee. The Managing Director of the IMF was accused of having manipulated a report to favor China. According to her accusers, she
lobbied
, when she was managing director of the World Bank, so that China does not tumble several places in the
Doing Business
report
of 2018. This report may have an impact on attractiveness, because it establishes a ranking of countries with the most favorable business climate.
►
To read also
: Why the abandonment of the "Doing Business" classification was necessary
On Monday evening, “
the (IMF) Executive Board found that the information presented during its review did not conclusively demonstrate that the Managing Director played an inappropriate role regarding the + Doing Business 2018+ report when 'she was managing director of the World Bank
,' according to an IMF press release.
"
After examining all of the evidence presented, the Management Board reaffirms its full confidence in the leadership and the ability of the Director General to continue to perform her duties effectively
", adds the text. However, the Board of Directors plans to meet in the future “
to examine possible additional measures aimed at ensuring the solidity
” of the institution in this area. Eight meetings have been organized since mid-September to examine the file on the merits and hear the explanations of the Director General.
This affair has deeply divided the 24 members of the Board of Directors, says
Agence France-Presse
.
While France, the United Kingdom and Europe more broadly have expressed their support for Mrs Georgieva, the United States has been more reluctant to renew her confidence.
Let us recall that, according to a division of roles inherited from the creation of the Bretton Woods institutions, the Fund is traditionally managed by a European while the World Bank is in the hands of an American, currently David Malpass.
Ms. Georgieva, previously Managing Director of the World Bank, took over as head of the IMF on October 1, 2019, replacing Frenchwoman Christine Lagarde appointed to the European Central Bank.
►
To read also
: Bulgarian Kristalina Georgieva succeeds Christine Lagarde at the IMF
(and with AFP)
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