Updated on Tuesday, 12 October 2021 – 07:17
The Bulgarian Kristalina Georgieva saved her position as managing director of the International Monetary Fund (IMF) after receiving the support of the board of the institution.
Kristalina Georgieva, Managing Director of the IMF..
The Bulgarian Kristalina Georgieva saved her position as managing director of the International Monetary Fund (IMF) after receiving the support of the board of the institution, although it comes out very distressed from these weeks of investigation.
The question about whether Georgieva, 68, would remain at the helm of the Fund planned since the publication, on September 16, of the conclusions of a WilmerHale Law Firm Investigation, carried out at the request of the ethics committee of the world Bank.
Georgieva, Managing Director of the IMF since October 1, 2019, has always denied the acts of which she was accused.
“The Directory [del FMI] concluded that the information presented during its review did not show conclusively that the managing director played an inappropriate role with respect to the Doing Business 2018 report, when she was general director of the world Bank“according to the press release.
“After examining all the evidence presented, the Board of Directors it reaffirms its full confidence in the leadership and ability of the Managing Director to continue to perform her duties effectively, “the text adds.
The announcement occurs when the IMF and the world Bank They began their autumn meetings on Monday with the issue of their integrity as the background.
The two organizations affirm that they have confidence “in the commitment” of Georgieva of “maintaining the best standards of governance and integrity at the IMF.”
However, the Board of Directors plans to meet in the future “to consider possible additional measures to ensure the solidity” of the institution in this matter.
For its part, Georgieva I highlighted that this matter was “a difficult episode on a personal level”, while reaffirming that the facts were “unfounded”.
“While the IMF meets this week, I am honored to lead such a talented team that works tirelessly to address the world’s greatest challenges, from fighting covid-19 to fighting climate change and fighting economic inequalities, “Reaction .
This issue has deeply divided the 24 members of the IMF Executive Board.
While France, United Kingdom and Europe in general they have expressed their support for Georgieva, USA he has been more reluctant to ratify it.
Only at the end of nearly four weeks of discussions did the United States end up joining the Europeans who wanted to reaffirm Georgieva in office.
In a separate statement, the United States Secretary of the Treasury, Janet yellen, said he met with Georgieva on Monday to discuss the “legitimate concerns” arising from the investigation and highlighted its commitment to “preserve the integrity and credibility of the world Bank and the IMF“.
However, like other members of the IMF Executive Board, the Treasury considered that “in the absence of additional direct evidence on the role of the Managing Director, there is no basis for a change of direction” of the Fund.
The IMF He said he had conducted a “thorough” and “objective” review of the case, meeting a total of eight times.
During a meeting with the Board of Directors, Georgieva He lamented “inaccuracies and erroneous assumptions made by the authors of the report.”
At the same time, he received the support of former officials of the world Bank and renowned economists, including Joseph stiglitz, Nobel Prize.
The US Treasury warned Monday to assess any news about the case.
The IMF Executive Board He also pointed out that the investigation of the world Bank on possible employee misconduct in the case of the “Doing Business” report was “ongoing”.
Georgieva assumed the head of the Fund on October 1, 2019, replacing the French Christine Lagarde, who was appointed a member of the European Central Bank.
In 2019, the IMF authorities had to change the statutes in order to ratify the appointment of Georgieva, who exceeds the age limit established in 65 years.
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