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According to a World Bank survey, IMF chiefs pushed staff to raise China’s rankings

World Bank Updates

IMF Managing Director Cristalina Georgieva has been accused of directing efforts to artificially raise China’s rankings in a lender’s influential annual Doing Business report, according to a World Bank survey.

The allegations relate to how long she was CEO. World Bank Oversee efforts to raise new capital from stakeholders, including China.

Georgieva said he fundamentally disagreed with the accusations contained in a report commissioned by the bank by law firm Wilmer Hale. Announced in-house on Wednesday World Bank Board Announces On thursday.

The bank also said it had on Thursday Obsolete publications Of doing business because of ethical concerns about the behavior of current and former staff involved in its preparation.

According to a Wilmer Hale report, in the 2018 Doing Business, China’s overall ranking was artificially kept at 78 as a result of recent changes raising its position from 85.

The report claims it Georgieva She led efforts to improve China’s rankings when she was “engaged” in a campaign to secure a World Bank capital increase.

During preparations for Doing Business 2018, a senior Chinese government official told then-World Bank governor Jim Yong Kim and other bank executives that the country’s rankings “repeatedly expressed concern.” “”It did not accurately reflect economic reforms. ”

WilmerHale said in the days before the publication of Doing Business 2018, attempts were made to raise China’s ranking from 85, including incorporating Hong Kong data into the score. When these efforts failed to produce the desired results, the report claimed that Georgieva had “became directly involved.”

In a law firm’s report, “Investigating Data Irregularities,” Georgieva instructed Simeon Djankov, one of the founders of Doing Business, to publish the report, which then “cooperated with Doing Business’s management in China. We have identified changes to our data. We will increase the country’s score and its ranking. ”

Business start, legal rights-credit gain, tax payments have been changed to show that China’s score has risen by almost 1 point and its ranking has risen 7th to 78. I am.

In a statement issued by the IMF, Georgieva said: The IMF’s board of directors on this issue. ”

Wilmer Hale’s report also claims irregularities in the preparation of Doing Business 2020, stating that Saudi Arabia was artificially promoted to the top of its list of top improvers ahead of Jordan.

Justin Sandeffer, a Center for Global Development think tank, has been a long-time critic of the Doing Business report, and Wilmer Hale’s allegations stem from his own criticism of the report that its methodology is too subjective and flimsy. Said.

“Even if nothing has changed on the ground, the rankings flew like crazy,” he said. “If there are so many calls for judgment and the report is under tremendous political pressure, then there is a recipe for the operation.”

Sandefur is one of six scholars who have been asked by World Bank Chief Economist Carmen Reinhart to provide recommendations on how to improve Doing Business. He said he hopes the results announced two weeks ago will be published in the next few days.

The World Bank promised to promote the role of the private sector in development on Thursday and said it would work on a “new approach to assessing the business and investment climate.”

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According to a World Bank survey, IMF chiefs pushed staff to raise China’s rankings

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