Yellen tells IMF’s Georgieva data manipulation investigation has raised “legitimate” concerns-Reuters

© Reuters. File photo: Secretary of the Treasury Janet Yellen testifies at the House Financial Services Committee hearing in Washington, USA, September 30, 2021. Sarah Silbiger/Pool via REUTERS

WASHINGTON (Reuters)-US Secretary of the Treasury Janet Yellen told IMF Managing Director Kristalina Georgieva on Monday that a law firm accused the International Monetary Fund of data manipulation by the World Bank. The report of the organization president “raised reasonable questions and concerns,” but the lack of direct evidence meant that the leadership change was unfounded.

Yellen stated in the statement that “proactive measures must be taken to strengthen the integrity and credibility of the IMF’s data.” Georgieva and other IMF leaders must reiterate their commitment to maintaining research, analysis, and policy transparency. Promise of.

On Monday, the Executive Board of the International Monetary Fund reiterated its confidence in Georgieva’s leadership in the IMF after a long review of the World Bank’s external investigation report https://thedocs.worldbank.org/en/doc /84a922cc9273b7b120d49ad3b9e9d3f9-0090012021original /DB-Investigation-Findings-and-Report-to-the-Board-of-Executive-Directors-September-15-2021.pdf.

According to a report by the law firm WilmerHale, when Georgieva became the CEO of the World Bank in 2017, she pressured bank staff to modify data to improve China’s status in the flagship Doing Business Report. Score. The company’s investigation is ongoing and will further investigate the misconduct of the World Bank staff that affected the scores of Saudi Arabia and other countries in the 2017 China changes and the 2019 business environment data changes.

Yellen told Georgieva that her primary task in promoting a thorough review of this matter is to “maintain the integrity and credibility of the World Bank and the International Monetary Fund.”

“Secretary Yellen also stated that the Treasury Department will closely monitor follow-up actions and evaluate any new facts or findings. Wilmer Hale’s report does emphasize the need for shareholders to remain vigilant in defending the integrity of banks and funds.” The Ministry of Finance said. In its statement.

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