The IMF on Sunday said it still has not reached a decision on whether its embattled managing director, Kristalina Georgieva, would keep her job.
The lack of clarity over her future comes as the IMF and the World Bank began their fall meetings yesterday.
An investigation by a law firm has concluded that Georgieva manipulated data in favor of China while in a senior role at the World Bank.
Photo: AFP
The IMF board met again with representatives of the firm, WilmerHale, and with Georgieva over the weekend.
The board said in a statement published late on Sunday that it made “further significant progress today in its assessment with a view to very soon concluding its consideration of the matter.”
“The Executive Board has consistently expressed its commitment to a thorough, objective, and timely review,” it said.
The law firm found that Georgieva, along with her associate Simeon Djankov, the former Bulgarian minister of finance who created the report, and Jim Yong Kim, then-president of the World Bank, pressured staff to make changes to the calculation of China’s ranking to avoid angering authorities in Beijing.
The push came while the bank’s leadership was engaged in sensitive negotiations with Beijing over increasing the bank’s lending capital.
Georgieva has repeatedly denied the report’s conclusions, and there was no immediate reaction from her on Sunday.
Several of the world’s leading economists have come to Georgieva’s defense.
In an opinion piece published late last month by Project Syndicate, Nobel laureate and former chief economist at the World Bank Joseph Stiglitz referred to the efforts to impeach Georgieva as a “coup” and said that the WilmerHale report was “a hatchet job.”
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