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The Executive Board of the International Monetary Fund (IMF), after reviewing the allegations of pressure by President Kristalina Georgieva, expressed confidence in her World Bank staff In her previous work, she changed the data to benefit China.
However, US Secretary of the Treasury Janet Yellen (Janet Yellen) reminded Georgieva that she will pay close attention to the IMF’s follow-up actions and evaluate any new facts or findings, and called for active measures to strengthen the IMF’s data integrity and Credibility.
The 24-member board of directors of the IMF and the U.S. Department of the Treasury issued lengthy statements on Monday. Previously, Georgieva held a week-long marathon meeting on Georgieva’s behavior as the CEO of the World Bank. The continued leadership of the company has been questioned.
Georgieva, a Bulgarian economist and the first person in charge of the fund from a developing country, strongly denies these claims. In another statement of her own, she welcomed the support of the board of directors and said that she was pleased that the board members agreed that the allegations against her were baseless.
“This is obviously a difficult episode for me personally,” she said. “However, I want to express my firm support for the independence and integrity of institutions such as the World Bank and the International Monetary Fund; I pay tribute to all those who are committed to protecting the values that these organizations build upon.”
According to sources familiar with the matter, Georgieva won the support of French and other European governments last week, but US and Japanese officials urged a more thorough review of these allegations.
What is controversial is a curse report prepared by law firm WilmerHale for the World Bank’s board of directors on data violations in the World Bank’s now cancelled “Business Environment” report.
The company’s report stated that just as the bank sought Beijing’s support for a substantial capital increase, Georgieva and other senior officials exerted “undue pressure” on bank employees to make changes to improve China’s business review. Ranking.
Georgieva strongly Refuse These allegations date back to 2017, when she was the CEO of the World Bank. She became the managing director of the IMF in October 2019.
The board stated that the information provided during the review-including meetings with lawyers WilmerHale and Georgieva-did not conclusively prove that she played an improper role in the Doing Business Report.
European governments have sought to resolve the matter quickly before the annual meeting of the International Monetary Fund and the World Bank this week. Georgieva and World Bank President David Malpas are leading discussions on the global emergence of the COVID-19 pandemic. Recovery, debt relief and efforts to vaccinate quickly.
One of the sources said that the two largest shareholders of the fund, the United States and Japan, warned against reiterating confidence in the fund leader too soon.
‘Serious Problem’
The U.S. Treasury Department said in a statement that Yellen and Georgieva had a conversation on Monday with Georgieva on the “serious issues” raised by the investigation, and emphasized her commitment to “maintaining the integrity and integrity of the World Bank and the International Monetary Fund.” The promise of “reputation”.
Although the report “raised reasonable questions and concerns,” the Ministry of Finance stated that it agreed with other board members that “there is no further direct evidence regarding the role of the president, and there is no basis for changes in the leadership of the IMF.”
Yellen told Georgieva that Wilmer Hale’s report indicated that shareholders need to be vigilant and defend the integrity of the two institutions, and that the International Monetary Fund should reaffirm their commitment to maintaining transparency and protecting whistleblowers.
Even if Georgieva keeps her job, these allegations have affected her tenure at the International Monetary Fund. The IMF is expected to provide impartial analysis and use it in governments, especially those seeking its assistance. Act as an honest intermediary and a strong advice provider.
The current and former staff of the two institutions said that the scandal also weakened the research reputation of the two institutions and raised key questions about whether the work was affected by member states.
Malpass declined to comment on the procedures of the International Monetary Fund on Monday, but said the World Bank is working to improve the integrity of its research, including raising its chief economist, Carmen Reinhart (Carmen Reinhart) to 10 people at the bank. A member of the senior management team.
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