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IMF reaffirms its ‘full confidence’ in Georgieva as chief after data scandal review

IMF reaffirms its ‘full confidence’ in Georgieva as chief after data scandal review

The recent investigation launched by US law firm WilmerHale into the Doing Business 2018 Report has revealed that International Monetary Fund Managing Director Kristalina Georgieva forced staff to alter data on global business conditions when she was CEO of the World Bank.

Following a detailed review, investigators suspected Georgieva, the then chief executive of the World Bank, of pressuring staff members to manipulate data in order to make China's business climate appear more favorable. In addition, the investigation found data irregularities in reports on Azerbaijan, the United Arab Emirates, and Saudi Arabia. However, Kristalina Georgieva publicly denied all the findings of the independent probe, calling them "false and spurious".

Against this background, the IMF had a meeting to conclude its review of that matter. The Executive Board considered that the information presented in the course of its review "did not conclusively demonstrate that the Managing Director played an improper role regarding the Doing Business 2018 Report." "Having looked at all the evidence presented, the Executive Board reaffirms its full confidence in the Managing Director’s leadership and ability to continue to effectively carry out her duties. The Board trusts in the Managing Director’s commitment to maintaining the highest standards of governance and integrity in the IMF," the fund said in a statement.

At the same time, the fund pledged to consider "possible additional steps to ensure the strength of institutional safeguards in these areas."

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