IMF backs Georgieva, says no conclusive signs of improper role in DB Report 2018

The IMF Executive Board in a meeting. Photo courtesy of IMF.

WASHINGTON, DC, Oct 12 — The International Monetary Fund (IMF) Executive Board on Monday reaffirmed its full confidence in the leadership of IMF Managing Director Kristalina Georgieva following the conclusion of its review of claims of impropriety raised by WilmerHale in its investigation of the World Bank’s Doing Business 2018 report.

In a press statement issued here Monday, the Board said that the information presented in the course of its review did not conclusively demonstrate that Georgieva played an improper role regarding the Doing Business 2018 Report when she was CEO of the World Bank.

On Monday, the Board met again for the eighth time as part of its commitment to a thorough, objective, and timely review. Prior to this the Board had two extensive discussions each with the representatives of WilmerHale as well as with the Managing Director.

It also took note that the World Bank’s investigation of potential World Bank staff misconduct in the Doing Business report matter was ongoing.

“Having looked at all the evidence presented, the Board trusts in the Managing Director’s commitment to maintaining the highest standards of governance and integrity in the IMF.

“The Executive Board also reiterates its own commitment to supporting the Managing Director in maintaining the highest standards of governance and integrity in the data, research, and operations of the IMF and has confidence in the impartiality and analytical excellence of IMF staff and in the IMF’s robust and effective channels for complaint, dissent, and accountability.”

The Board also said it planned on meeting to consider possible additional steps to ensure the strength of institutional safeguards in these areas.