The storm that has whipped in recent weeks the dome of the International Monetary Fund (IMF) and in particular its managing director, Kristalina Georgieva, has been applied by the Executive Rabbit of the Agency. "The information presented in the course of this investigation has not been able to conclusively demonstrate that the manager director played an inappropriate role in relation to the 2018 Doing Business Report when he was Executive Director of the World Bank," says the IMF on a note made public After two days of deliberations.
The body expresses its "total trust" in Georgieva and emphasizes that it is the person in which it delegates leadership and ability to maintain the highest levels of governance and integrity in the IMF.
The crisis that has questioned the integrity of the organization that sails for the stability of the global economy has its origin in the Doing Business Report of the World Bank. The improvement of China's position in its 2018 edition, when Georgieva was CEO of the Agency, has awakened a whole process in which the reputation of the current managing director has been in question, recalling previous stages. Being an institution that supervises and establishes guidelines to the countries in trouble to stabilize their economies, the fact of its managing director would have given treatment for a power as China, a threat from the role of it as an international authority.
Thus, in the same announcement of its support to Georgieva, the IMF has announced that it will take measures to ensure that it reinforces institutional security measures in areas such as governance, data integrity, research, as well as claims, disagreeable. Reports and accounting.
Georgieva itself has highlighted at the end of the crisis that this matter has been "a difficult episode on a personal level", while insembling in his defense when he underlined that the facts that have moved the accusation were "unfounded".
Despite the rotund final statement, the crisis has deeply divided the 24 members of the IMF Executive Board. While France, the United Kingdom and Europe in general have expressed its support for Georgieva, the United States has been more reluctant to ratify it.
Only at the end of almost four weeks of discussions, the United States ended up joining the Europeans who wanted to reaffirm Georgieva in office.
In a separate statement, the US Treasury Secretary, Janet Yellen, said he met with Georgieva on Monday to discuss the "legitimate concerns" arising from research and highlighted his commitment to "preserve the integrity and credibility of the World Bank and The IMF ".
However, as well as other members of the IMF Executive Board, the Treasury considered that "in the absence of additional direct evidence on the role of managing director, there is no basis for a change of address" of the Fund.
The IMF said that it had performed a "exhaustive" and "objective" review of the case, meeting a total of eight times.Updated Date: 15 October 2021, 05:15