IMF Chief Under Probe for Data-Rigging Allegations

Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva is under investigation by the Fund’s executive board for allegations of rigging the Doing Business Report in 2018 during her tenure as World Bank chief.

The IMF Executive Board announced in a statement that it met with Georgieva on Oct. 6, questioning her role in the Doing Business scandal.

Lawyers from WilmerHale — the firm that conducted the investigation on irregularities in the World Bank’s Doing Business reports for 2018 and 2020 — were also probed in late September.

The investigation commissioned by the World Bank concluded that Georgieva spearheaded the manipulation of China’s data in the 2018 Doing Business surveys, allegedly because of “undue pressure” from Beijing.

Georgieva has forcefully denied the allegations multiple times. She maintained in her recent meeting with the IMF Board that the WilmerHale report does not “accurately portray my character or the way that I have conducted myself over a long professional career.”

The World Bank investigation was also misleading, Georgieva claimed, saying that WilmerHale initially reassured her that she was not a subject of the investigation.

Analysts have been debating whether the IMF chief is credible enough to continue her tenure, with The Economist magazine calling for Georgieva’s resignation last month.

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