The International Monetary Fund rallies behind a trapped woman

Kristalina Georgieva will remain as President (Managing Director) of the International Monetary Fund (IMF). That was the conclusion of Monday evening after a marathon session in Washington Executive Committee of 24 people The Financial and Economic Supervisory Authority in the world.

The 68-year-old Bulgarian economist has come under fire for a report by law firm Wilmerhill about her tenure at Washington’s other economic watchdog, the World Bank. In 2018, according to WilmerHale, Georgieva put a lot of pressure on employees to participate in the influential annual event. Doing Business Report To better represent China’s standing in the rankings than it actually was. The current head of the International Monetary Fund strongly denies these allegations.

The United States and Japan, the largest contributors to the International Monetary Fund, pushed out Georgieva. On the other hand, all European shareholders formed a square around the Bulgar.

In the end, the last combination succeeded, although you can provide support according to a press release Don’t really call it complete. The Executive Board believes that the investigation did not conclusively establish that the Director General played an inappropriate role in Doing Business 2018.

The Council therefore expresses its “full confidence” in Georgieva. However, it appears that the Executive Board will consider additional steps to continue to ensure “impartiality and analytical excellence”, as well as “robust channels for complaints and refutations”.

The International Monetary Fund will present this afternoon at 3:00 pm Belgian time the latest version of it at the autumn meeting Global Economic Prospects, The semi-annual database of economic forecasts for the world economy and member countries.