The Economist Demands Resignaion of Kristalina Georgieva as Head of the IMF

Society | September 24, 2021, Friday // 17:34
Bulgaria: The Economist Demands Resignaion of Kristalina Georgieva as Head of the IMF World Bank

The authoritative world media outlet, The Economist calls on the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, to resign.

According to the economic edition, keepingGeorgieva on th top post in the management of the MBF is detrimental for the institution in the future.The reasonare the suspicions of manipulations in favor of China in the "Doing Business", ranking prepared by the World Bank, while Kristalina Georgieva was in its managing body.

In its scathing article The Economist claims: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 publication adds that "in her defense, her boss initiated the additional investigation. She had a higher motive for strengthening multilateralism ... But although Ms. Georgieva deserves sympathy, the episode does not agree easily with her current role in the IMF. The fund has its own influential research department. It is also the custodian of data standards for global macroeconomic statistics. "

We remind you that a study of the law foffice "Wilmer Hale" claims that the Bulgarian exerted pressure on the staff to change the data on China for the benefit of China. The report of the law office gives a detailed description of acions by certain members of the World Bank top management and its staff from the Doing Business department in which Kristalina Georgieva and Simeon Djankov took most active part.

Currently the probe into the case is still underway in the IMF, same as in the  US Office of Finance and Accounting./



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Tags: IMF, Kristalina Georgieva, resignation, Doing Business ranking
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