Probe found 'undue pressure' from World Bank leaders to boost China business rankings
The World Bank said in a statement that the decision came after internal audit reports had raised "ethical matters, including the conduct of former Board officials as well as current and/or former Bank staff" and a board investigation conducted by the law firm WilmerHale.
Kristalina Georgieva, managing director of the International Monetary Fund , speaks in Washington, D.C., on Oct. 16, 2019.The World Bank Group on Thursday said it ended publication of its "Doing Business" report on country investment climates after a probe of data irregularities cited "undue pressure" by top bank officials, including then-Chief Executive Kristalina Georgieva, to boost China's ranking in 2017.
China's ranking in the "Doing Business 2018" report published in October 2017, rose seven places to 78th after the data methodology changes were made, compared with the initial draft report. "I disagree fundamentally with the findings and interpretations of the investigation of data irregularities as it relates to my role in the World Bank's Doing Business report of 2018," Georgieva said in a statement issued by the IMF. She added that she had met with the IMF's executive board to discuss the matter.
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