The Executive Board of the International Monetary Fund announced yesterday evening, Monday, the renewal of its “full confidence” in its Director-General Kristalina Georgieva, in a decision that means she will retain her position despite the accusations of wrongdoing.
The World Monetary Agency said in a statement that its board of directors concluded that the information that emerged during the investigation did not prove that the Bulgarian economy played any “inappropriate role.”
Georgieva, 68, was quick to welcome the Executive Council’s decision, reiterating that the accusations against her are “baseless.”
The question of whether or not the Director-General should remain in her post was raised after the Wilmer Hill law firm published on September 16 the results of an investigation it had conducted at the request of the Ethics Committee of the World Bank, which concluded that while Georgieva was Managing Director of the World Bank, she was among the senior officials. who pressured bank employees to change data in favor of China during their 2018 Doing Business report.
But Georgieva vehemently denied the findings of the Wilmer Hill investigation.
On Monday evening, the IMF announced in its statement that its Executive Board had taken the decision to keep the Director-General in her position at the conclusion of its eighth meeting on this issue, stressing that these meetings were held “within the framework of the Executive Board’s commitment to conduct an in-depth, objective and accurate review.”
“The Executive Board concluded that the information provided during its review did not conclusively establish that the Director-General played an inappropriate role in relation to Doing Business 2018 when she was Director-General of the World Bank.”
After examining all the evidence presented, the Executive Board reaffirms its full confidence in the Director-General’s leadership and ability to continue to effectively perform her duties.
He added that the board was confident of Georgieva’s “commitment” to “maintaining the best standards of governance and integrity at the IMF”.
In turn, Georgieva said, “Trust and integrity are the cornerstones of the multinational organizations that she has faithfully served for more than four decades.”
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