Yellen says IMF’s Georgieva data rigging probe raises “legitimate” concerns: Treasury

Washington — US Treasury Secretary Janet Yellen told the International Monetary Fund Secretary-General Christalina Georgieva on Monday that a law firm’s report on the World Bank’s alleged data fraud to the IMF CEO “legitimate problems and concerns. I raised it, “but the lack of direct evidence was unjustified, which meant a change in leadership.

“We need to take positive steps to enhance the integrity and reliability of the data at the IMF,” Yellen said in a statement, and Georgieva and other fund leaders said in a survey, analysis, We need to renew our commitment to maintain policy transparency.

The call came after the IMF Board reaffirmed its full confidence in the fund’s Georgieva leadership after a lengthy review of the World Bank’s external investigation on Monday. report..

IMF head
Cristalina Georgieva, Managing Director of the International Monetary Fund (IMF), speaks at the last joint news conference of the Summit on Financing the African Economy on May 18, 2021 in Paris, France. Did. (LudovicMarin / Reuters)

According to a report by law firm Wilmer Hale, when Georgieva was CEO of the World Bank in 2017, she pressured bank staff to change data and raise China’s score in its flagship Doing Business report. Called. The company’s investigation is ongoing and will further investigate the misconduct of World Bank staff in changes in China in 2017 and changes in Doing Business data affecting scores in Saudi Arabia and other countries in 2019.

Yellen told Georgieva that her priority in promoting a thorough review of the matter was “to maintain the integrity and credibility of the World Bank and the IMF.”

“Yellen also needs the Treasury to closely monitor follow-ups, evaluate new facts and discoveries, and Wilmer Hale’s report warn shareholders to protect the integrity of both banks and funds. He said he emphasized something, “said the Treasury. In that statement.