Georgieva of the International Monetary Fund denies lobbying in favor of China

The case targets the director of the International Monetary Fund. In the editorial of the magazine The Economist He asked for his resignation, because the case jeopardized the ability of the International Monetary Fund to act as the custodian of the world’s macroeconomic statistics.

“The head of the International Monetary Fund is in charge of the whistle blow as two of its biggest shareholders, the United States and China, face a new era of geopolitical rivalry,” The Economist said. “The next time the IMF tries to arbitrate a currency dispute, or helps reschedule the debt of a country that has borrowed from China, critics of the Fund will surely cite this investigation to undermine the institution’s credibility.”

Faced with these criticisms, Georgieva criticized the allegations and the investigation conducted by the law firm Wilmerhill, in a detailed statement to the Executive Board of the International Monetary Fund, which is reviewing the matter. The board said the review contained “material errors” and accused the office of former bank chief Jim Kong Kim of manipulation, saying it had proposed including Hong Kong data in China’s ranking in the World Bank’s 2018 Doing Business report to improve the World Bank’s position. The second largest economy in the world.