Monday, August 8

Kristalina Georgieva cannot defend herself against the World Bank

In the brief, the attorney, Whitney Debevoise of Arnold & Porter, states that “An investigative report prepared by the WilmerHale law firm for the board was conducted incorrectly, violated Georgieva’s due process rights, and based its fundamental conclusion on a false assumption”, according to the international agency, he could see a copy of the letter sent to the World Bank.

It should be recalled that WilmerHale concluded in September that officials, including Georgieva, applied “undue pressure” to bank staff to alter the data and favor China in the bank’s Doing Business 2018 ranking.

The report accused Georgieva of pressuring staff to change the data as the bank’s chief executive in 2017, according to two informed sources. about the situation.

Recently, the US Treasury secretary accepted with some qualms that Georgieva continue to lead the IMF, but her power has been weakened.

The accusations of the lawyer of the head of the IMF have the intention of “clarifying” the doubts that were spilled in the elaboration of the Doing Business. In Washington, the response of the World Bank to deny him a hearing for his defense was surprised, a sign that this episode is not yet over.

Another suspicion

Added to this is the recent accusation of almost 200 employees of the body chaired by Georgieva who, through a letter, asked him to explain the criteria of a report on Brazil, according to a note from Bloomberg News.

The letter from the Fund’s employees expresses concern about “respect for the rules and procedures that safeguard the technical independence of the staff”.

The question is because in Article IV of Brazil the warning about environmental risks for the Brazilian economy would have been softened.

Agency spokesperson Gerry Rice responded to the petition stating that “all fund policies and procedures related to the Brazil Article IV staff report were followed and he has responded in detail to all questions raised.”