IMF board to back Georgieva after review of data-rigging claims -sources
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WASHINGTON – The International Monetary Fund's executive board will issue a statement of support for Managing Director Kristalina Georgieva after reviewing allegations she pressured World Bank staff to alter data to favor China, sources familiar with the decision said on Monday.
The 24-member board reached the decision on Monday after marathon meetings over the past week, where members debated the future of Georgieva, a Bulgarian economist and the first person from a developing country to head the fund.
France and other European governments said last week they wanted Georgieva to serve out her term, while U.S. and Japanese officials pushed for a thorough review of the allegations, according to separate sources briefed on the matter.
SENATORS CALL FOR 'FULL ACCOUNTABILITY' IN WORLD BANK DATA CONTROVERSY
At issue was a damning report prepared by the law firm WilmerHale for the World Bank's board about data irregularities in the bank's now-canceled "Doing Business" report.
The firm's report alleged that Georgieva and other senior officials applied "undue pressure" on bank staff to make changes to boost China's ranking in the report, just as the bank was seeking Beijing's support for a major capital increase.