Big questions are being raised about the credibility of the World Bank's Doing Business report. The investigation found that the 2018 report by the World Bank was manipulated due to Chinese pressure. Controversy is deepening over irregularities in the World Bank's Ease of Doing Business report.
The name of the IMF's head came out in the controversy
Now the name of Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) has also appeared in this. According to the report, Georgieva had pressured employees to make changes to a report during her stay at the World Bank so that China would not be offended. However, Georgieva disagreed on this.
China's pressure on the then president of the IMF
The report was prepared by law firm WilmerHale at the behest of the bank's ethics committee. In this, concern has been expressed about China's pressure on the World Bank. The report said that Kristalina had put pressure on employees to improve China's ranking. Along with this, there has also been talking of China's pressure on the then IMF President Jim Yong Kim.
Canceled Doing Business report for the time being
At the same time, Georgieva rejected the investigation report, saying that she did not agree with it and presented her side before the IMF Executive Board. Earlier on Thursday itself, the World Bank announced the postponement of the Doing Business report. In this context, the bank said that in the report, the matter of data tampering has come to the fore. So it has been canceled for the time being.
US Treasury Department will study
In the matter, the US Treasury Department said that it would study it. If this report is true, then it is a serious matter. According to the WilmerHale report, there was "direct and indirect pressure" from senior staff members of former IMF President Jim Yong Kim to change the methodology of the report and improve China's score.
China jumps seven places in 'Doing Business 2018' report
The World Bank had sought help from China for capital. Therefore, it is being speculated that instead of that, an attempt was made to give an advantage to China in the report. China was ranked 78th, up to seven places in the 'Doing Business 2018' report.
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