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United States

12 Oct 2021

Yellen Tells IMF’s Georgieva Data-Rigging Allegations Raised Concerns

The Index Today

On Monday, U.S Treasury Secretary Janet Yellen announced her support towards IMF director Kristalina Georgieva after a report into the World Bank data-rigging allegations were exposed. Although the issues raised in the report were somewhat alarming, lack of evidence means Georgieva can retain her position at the IMF as long as all members uphold their commitment.

In a statement Janet Yellen said, “Proactive steps must be taken to reinforce data integrity and credibility at the IMF.”

The detailed report conducted by law firm WilmerHale showed during Georgieva’s tenure as World Bank CEO in 2017, she pressurized fellow workers to change and edit China’s score in its “Doing Business” report. Investigations are still ongoing to determine the severity of the allegations and staff misconducts.

Janet Yellen has asked for a thorough review of the matter to preserve the integrity of the World Bank institution. The treasury released a statement saying, “Secretary Yellen also conveyed that Treasury will monitor follow-up closely, evaluate any new facts or findings and that the WilmerHale report does underscore the need for shareholders to be vigilant in defending the integrity of both the Bank and the Fund.”

©Photo: Alex Wong/Getty Images

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