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Tue Oct 12, 2021, 08:00 PM

Kristalina Georgieva will remain managing director of the IMF, its board says

The International Monetary Fund’s executive board on Monday expressed confidence in the leadership of Kristalina Georgieva, its managing director, following allegations that she had manipulated data to placate China when she was a senior World Bank official.

The decision came less than a month after an independent inquiry commissioned by the World Bank concluded that she played a central role in meddling with its 2018 Doing Business survey.

The findings raised questions about her judgment and ability to continue leading the IMF - but ultimately its executive board decided that the investigation into Ms. Georgieva’s actions “did not conclusively demonstrate” that she had acted improperly.

“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 IMF’s executive board said in a statement.

Ms. Georgieva, 68, a Bulgarian economist, maintained strong support from many of the IMF’s shareholders, including France, which had lobbied hard for her to get the job in 2019.

The United States, which is the fund’s largest shareholder, declined to express public support for her following the allegations but ultimately did not call for her removal.

At: https://www.nytimes.com/2021/10/11/business/kristalina-georgieva-imf.html

IMF Managing Director Kristalina Georgieva, smiles during an August 26 Berlin summit of global economic and financial organizations.

Georgieva was confirmed in her post by the IMF executive board following a probe into her allegedly pressuring World Bank economists to lift China's ranking by seven spots (to 78th) in their 2018 Doing Business survey.

Her confirmation was welcomed by severely indebted countries such as Argentina - which is currently negotiating a rescheduling of a record, $45 billion IMF debt lent under Georgieva's more conservative predecessor, Christine Lagarde.

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