WASHINGTON: The International Monetary Fund (IMF) said on Friday it would decide “immediately” whether the implementing director who was fought by Georgieva’s crystalina guarded his job.
Investigation by law firms has concluded that he manipulates data that supports China when in the senior role at the World Bank.
The IMF Executive Board said after the Friday meeting that it had made a “significant progress” in his assessment but agreed “to request more clarification details with the view to immediately conclude the consideration of the problem.” On Thursday Georgieva, 68, said he hoped for “fast resolution” from this case.
The IMF Executive Board is reviewing investigations last month by Wilmerhale law firm which found that during the World Bank CEO, Georgieva was among high-ranking officials who pressed staff into changing data to Chinese benefits in witnessing business reports that were strictly watched.
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Georgieva spoke with the IMF board this week.
He has repeatedly denied the conclusion of the report, and on Thursday released a letter from his lawyer to the Board of Objection with the findings of Wilmerhale, and his 12-page testimony to 24 board members.
The law firm found that Georgieva along with his colleague Simeon Djankov, a former Bulgarian Finance Minister who created the report, and Jim Yong Kim, then – the President of the Bank, the staff who pressed to change the calculation of Chinese ranks to avoid Beijing’s anger.
Push comes while bank leadership is involved in sensitive negotiations with Beijing increasing bank loan capital.
The Executive Board can meet again on Saturday, the source close to the problem says on the terms of anonymity.
This source added that Georgieva has won French support and other European countries.
The United States, the IMF key member, has not expressed its position in this controversy, according to two sources with knowledge of the situation.
Time is essence because the IMF and the World Bank started their autumn meeting on Monday.