April 1, 2023

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The International Monetary Fund has no consensus on the fate of the managing director

The maintenance of IMF chairwoman Kristalina Georgieva was charged with malpractice and was in suspense on Sunday evening after a new meeting of its executive committees before the company opened its autumn meetings.

The Board of Directors of the International Monetary Fund considers that “other significant progress” has been made in understanding this issue.

The 24-member board, which represents 190 countries, usually makes a unanimous decision. The spokesman explained in a statement on Sunday evening that the goal of the file was to “complete the exam as soon as possible”, just as it was released two days ago.

Even if the management of the International Monetary Fund renews its confidence in him, the 68-year-old Bulgarian managing director will be weakly exposed by the results of an investigation on September 16. Wilmerhail Cabinet of Attorneys.

The investigation revealed irregularities in the 2018 and 2020 editions of the World Bank’s “Doing Business” report.

And its authors accused Kristalina Georgieva of putting pressure on her teams when she was the World Bank’s managing director, giving China a very positive ranking.

The survey was conducted at the request of the World Bank’s ethics committee. .

The lack of decision is cooling the finance and World Bank meetings starting on Monday.

Ms. Georgieva is about to speak at a roundtable on the topic: Rediscovering the Workplace for Women.

But more than all the press conferences he held on Wednesday are now eagerly awaited.

The IMF Board of Directors heard representatives from Ms. Georgieva and Wilmerhail.

But Kristalina Georgieva’s fate vehemently denies the allegations against her and divides the IMF members.

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On the one hand, Europe and Africa want to maintain it. The United States and Japan, on the other hand, are reluctant to continue their activities, according to sources close to the matter.

Six former World Bank officials, in a statement released by a public relations firm retained by Kristalina Georgieva, recently defended him, calling him “committed to better integration and development.”

– Integrity of companies at risk –

Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University, described his dismissal in the Financial Times as “dangerous and costly surrender in the face of anti-Beijing hysteria”, accusing Washington of China’s interference in international organizations.

Joseph Stiglitz, a Nobel laureate and former chief economist at the World Bank, called her role a “conspiracy” and the Wilmerhail report was an “attempt to demolish” the project syndicate, in an article published in the online commentary media.

Her supporters highlighted her achievement during the crisis caused by the Govt-19 epidemic, and the leader worked to help the most vulnerable countries.

Alexandra Lamanna, a spokeswoman for the U.S. Treasury, explained this week that the “responsibility” of the United States is to “preserve the integrity of international financial institutions” that provide economic data.

The IMF is set to release its latest global economic outlook on Tuesday.

Ms. Georgieva took over as head of funding on October 1, 2019, replacing Christine Lagarde, who was appointed to the European Central Bank.

She was the only candidate then.

The fund is traditionally run by a European, while the World Bank is in the hands of an American, currently David Malpas.

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