IMF reposes faith in MD, says no conclusion on ‘improper’ role in EODB report

The executive board of the International Monetary Fund (IMF) has considered that the information presented in the course of its review did not conclusively demonstrate that its Managing Director Kristalina Georgieva played an ‘improper’ role regarding the Doing Business 2018 Report when she was the CEO of the World Bank.

“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 the Managing Director’s commitment in maintaining the highest standards of governance and integrity in the IMF,” a statement issued by the IMF said.

The executive board also reiterated its own commitment to support Georgieva in maintaining the highest standards of governance and integrity in the data, research and operations of the IMF, adding that it 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.

At the same time, the executive board plans to meet to consider possible additional steps to ensure the strength of the institutional safeguards in these areas.

The IMF executive board met to conclude its review of the matter raised by WilmerHale’s investigation of the World Bank’s Doing Business 2018 report.

This was the eighth such board meeting on this matter, as part of the executive board’s commitment to a thorough, objective and timely review. In particular, the executive board had two extensive discussions each with the representatives of WilmerHale as well as with the Managing Director.

The executive board also took note of the fact that the World Bank’s investigation of potential World Bank staff misconduct in the Doing Business report matter is ongoing.