Georgieva’s future IMF helm still unclear
Some European governments back her at Friday’s marathon meeting
The International Monetary Fund’s executive board ended a five-hour meeting about the future of Managing Director Kristalina Georgieva without a decision on Friday, saying it would seek more information about claims she pressured World Bank staff to alter data to benefit China in her previous role.
The IMF said the board had made “significant progress” in its review of the World Bank data-rigging scandal, but agreed to request “more clarifying details with a view to very soon concluding its consideration of the matter.”
Prominent role
It was not immediately clear if the board would meet again before the start of next week’s high-profile meetings of the IMF and World Bank, where Georgieva is due to play a prominent role in presenting the global lender’s newest economic forecasts.
Some European governments backed the Bulgarian economist to remain IMF chief at Friday’s marathon
meeting, according to people familiar the matter.
Other officials sought more time to review discrepancies between accounts by Georgieva and the WilmerHale law firm hired by the World Bank to investigate data irregularities in its flagship Doing Business reports.
Georgieva said she had answered all the board’s questions and remains at the board’s disposal as it concludes its review.
Georgieva has strongly denied the allegations, which date back to her time as chief executive of the World Bank in 2017. Her lawyer claims that the WilmerHale probe violated World Bank staff rules in part by denying her an opportunity to respond to the accusations, an assertion WilmerHale disputes.