Economics
Georgieva Outlines Defense in Letter on World Bank Probe
- Tells IMF board reviewing business report was part of her role
- Says accusation based on ‘fundamental misunderstandings’
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IMF Managing Director Kristalina Georgieva this week gave the lender’s board a more detailed defense against accusations that she improperly influenced a report in China’s favor in her previous job at the World Bank.
In a three-page letter to the head of the board’s ethics committee dated Sept. 21 and obtained by Bloomberg News, Georgieva -- who at the time was the World Bank’s chief executive officer -- said she was surprised by law firm WilmerHale’s conclusion in a Sept. 15 audit report that she played a “key role” in changes related to China’s ranking in the Doing Business 2018 report.