IMF Managing Director Denies 'Pro-China Bias' Allegations as "Baseless" Again

▲Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) [Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has once again denied allegations of 'favoring China.'

According to major foreign media on the 6th (local time), Georgieva stated in a statement sent to the IMF Board of Directors that the allegations of "favoring China" are "absurd and unfounded."

Georgieva is accused of pressuring the manipulation of the 2018 Doing Business report in a way favorable to China during her tenure as CEO of the World Bank (WB).

At the end of last month, Georgieva also denied the findings of the law firm WilmerHale's investigation, which claimed she pressured staff to alter related data, in a statement sent to the IMF Board.

She further emphasized that there was no connection between changing China's ranking in the Doing Business report at that time and the World Bank's capital increase proposal.

Previously, the WB Board had commissioned WilmerHale to investigate the data in the 2018 and 2020 Doing Business reports.

The investigation revealed that there was pressure from senior officials to raise China's ranking in the 2018 report, and allegations surfaced that former President Jim Yong Kim and then-WB CEO Georgieva were involved.

Following the release of WilmerHale's report, Georgieva denied the allegations and provided a more detailed statement.

The IMF Board has begun reviewing these allegations and is scheduled to convene a meeting on the 9th, according to sources cited by major foreign media.

This move by the IMF Board aims to manage the situation ahead of the upcoming IMF-WB Annual Meetings starting next week.

The Annual Meetings are attended by major countries that provide substantial funding to the IMF and WB.

In the United States, controversy is growing as senators are calling for a thorough investigation into these allegations.

This content was produced with the assistance of AI translation services.