Will Kristalina Georgieva keep her position in the IMF? The council adds that she has confidence in Georgieva’s “commitment”!
The International Monetary Fund’s board of directors has announced that it is renewing “full confidence” in Kristalina Georgieva. With that, she retains her position as CEO despite the accusations.
The governing bodies of the institution consider that the information presented during the investigation does not allow to draw a conclusion about the “inappropriate role” of the Bulgarian economist.
For her part, quoted by AFP, Georgieva thanked the board for the vote of confidence and stressed that the accusations made against her were unfounded.
The question of whether the 68-year-old Georgieva will remain at the helm of the fund was raised after the publication on September 16 of the conclusions of an investigation by the law firm Wilmerhale, conducted at the request of the World Bank’s ethics committee.
In this investigation, Georgieva is accused of manipulating data from the Doing Business 2018 report in favor of China, as managing director of the World Bank. Georgieva herself denied the allegations.
The IMF said its decision to retain its post was taken after an eighth board meeting on the issue, “as part of the board’s commitment to conduct a comprehensive review. Objective and accurate”.
“The board found that the information provided during the review did not conclusively prove that the CEO played an inappropriate role in the Doing Business 2018 report when she was CEO of the World Bank,” the IMF said.
“After examining all the evidence submitted, the Management Board reaffirms its full confidence in the management and the ability of the Director-General to continue to perform his duties effectively.”
The board added that it had confidence “in Georgieva’s commitment” to maintain the best standards of governance and integrity in the IMF. “
“Trust and integrity are the cornerstones of multinational organizations, which I have faithfully served for more than four decades,” Georgieva said.
She stressed that the accusations were a “difficult episode on a personal level”, while expressing her “unwavering support for the independence and integrity” of the IMF.
“The Executive Board looks forward to continuing to work with the Managing Director, as well as the rest of the IMF’s management team and staff, to address the serious challenges facing the global economy and IMF member countries,” the statement said.