The Economist with a Devastating Article about Kristalina Georgieva, Demands her Resignation

Politics » DIPLOMACY | September 24, 2021, Friday // 12:19
Bulgaria: The Economist with a Devastating Article about Kristalina Georgieva, Demands her Resignation Reuters

The Economist called on the managing director of the International Monetary Fund, Kristalina Georgieva, to resign over her role in the scandal with China.

In 2017, when she was the executive director of the World Bank, Kristalina Georgieva put pressure on China to increase its position in the ranking of world economies. This revealed an inspection of the law firm WilmerHale, engaged by the ethics committee of the Executive Board of the World Bank.

The influential London magazine points out in a scathing editorial that this scandal has undermined the reliability of the International Monetary Fund - in its role as custodian of data on world macroeconomic statistics.

"The head of the IMF must be impartial, while two of its largest shareholders, America and China, are at odds with each other in a new era of geopolitical rivalry," the Economist wrote, adding that critics of multilateralism were already referring to findings as evidence that international organizations cannot oppose China.

"The next time the IMF tries to play the role of arbiter in a currency dispute or to help reschedule the debt of a country that has borrowed from China, critics of the fund will certainly refer to this investigation to undermine confidence in the institution. That is why Ms Georgieva, a respected official of several international institutions, must resign," the editorial said.

The Economist quotes Wilmer Hale's report as saying that Georgieva, the World Bank's chief executive at the time, thanked a senior bank researcher for "contributing to multilateralism" in changing China's data. .

"Now she too must contribute to multilateralism by taking responsibility," the influential London magazine called.


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Tags: Kristalina Georgieva., IMF., Economist., resign., China., debt
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