IMF reaffirms 'full confidence' in Georgieva

14 October 2021 | Economics

DELPHINE TOUITOU

The IMF Executive Board reaffirmed on Monday its "full confidence" in the Washington-based crisis lender's chief, Kristalina Georgieva, keeping her on as managing director after she was hit with allegations of data tampering.

"Having looked at all the evidence presented, the Executive Board reaffirms its full confidence in the Managing Director's leadership and ability to continue to effectively carry out her duties," the institution's governing body said.

An investigation by law firm WilmerHale has concluded that the Bulgarian economist manipulated data in favour of China while in a senior role at the World Bank.

WilmerHale's controversial findings centre on the drafting of the 2018 and 2020 editions of the World Bank's report ranking countries according to their ease of doing business.

The push came while bank leadership was engaged in sensitive negotiations with Beijing over increasing the bank's lending capital.

The IMF board said it "considered that the information presented in the course of its review did not conclusively demonstrate that the Managing Director played an improper role regarding the Doing Business 2018 Report when she was CEO of the World Bank."

Georgieva welcomed the decision, saying the allegations were "unfounded."

"This has obviously been a difficult episode for me personally," said the 68-year-old, who took the helm of the International Monetary Fund in October 2019 after Christine Lagarde departed to lead the European Central Bank.

"I want to express my unyielding support for the independence and integrity of institutions such as the World Bank and IMF; and my respect for all those committed to protecting the values on which these organizations are founded," she said in a statement. -Nampa/AFP

Similar News

 

Africa calls for climate finance tracker

2 days ago - 22 October 2021 | Economics

ALESSANDRA PRENTICEAfrican countries want a new system to track funding from wealthy nations that are failing to meet a US$100-billion annual target to help the...

Kenya lifts curfew to boost the economy

2 days ago - 22 October 2021 | Economics

Kenya lifted a nationwide curfew on Wednesday that has been in place since March 2020 to curb the spread of the coronavirus, President Uhuru Kenyatta...

!Gawaxab concerned about weak credit uptake

3 days ago - 21 October 2021 | Economics

PHILLEPUS UUSIKUIt is expected that when interest rates are low, individuals and businesses will approach commercial banks to seek for credit in order to invest...

Ongos Valley, Telecom Namibia sign MoU

4 days ago - 20 October 2021 | Economics

PHILLEPUS UUSIKUOngos Valley Development signed a Memorandum of Understanding (MoU) with Telecom Namibia (TN) last week to commemorate their journey towards developing a smart city.In...

Zim unvaccinated employees barred from work

4 days ago - 20 October 2021 | Economics

Zimbabwe bar unvaccinated government workers from reporting for duty as part of efforts to fight Covid-19, an official circular showed.The southern African country has, as...

South Africa not authorising Russian vaccine

4 days ago - 20 October 2021 | Economics

South Africa's drugs regulator said on Monday that it was not approving an emergency use application for Russia's Sputnik V Covid-19 shot for now, citing...

No hand brake for fuel prices

4 days ago - 20 October 2021 | Economics

Jo-Maré Duddy - Fuel prices, which have soared recently, are likely to remain high in the coming months but begin to retreat early next year.While...

No fear of inflation

4 days ago - 20 October 2021 | Economics

Global finance officials are worried about rising inflation pressures but there it is little fear that it will become a "runaway train," IMF chief Kristalina...

Hard choices loom for finance chiefs’ pledges

4 days ago - 20 October 2021 | Economics

Chris Stein - In speeches and communiques from top finance officials at the recent annual meetings of the IMF and World Bank, one word was...

Sticking points at COP26

4 days ago - 20 October 2021 | Economics

Nina Chestney - Representatives from nearly 200 countries will meet in Glasgow, Scotland, from Oct. 31-Nov. 12 for climate talks to strengthen action to tackle...

Latest News

Heimstädt steering road safety

2 days ago - 22 October 2021 | Business

Rivaldo KavangaHorst Heimstädt is the CEO of the Namibia Road Safety Forum, a private organisation which does extensive work in the Southern African Development Community...

FNB to strengthen its support...

2 days ago - 22 October 2021 | Business

PHILLEPUS UUSIKUProparco, a private sector financing arm of Agence Française de Développement Group (AFD Group), granted a EURIZ portfolio guarantee of N$ 68 million to...

Learners don maize sacks for...

2 days ago - 22 October 2021 | Education

TUYEIMO HAIDULA OSHAKATI Learners at Omuthiyagwiipundi Combined School in Omuthiya are forced to wear maize sacks each time they misbehave at...

Itula changed, says suspended Smith-Howard

2 days ago - 22 October 2021 | Politics

Staff Reporter WINDHOEKSuspended Independent Patriots for Change (IPC) Swakopmund constituency councillor Ciske Smith-Howard says her party leader, Dr Panduleni Itula, has become...

The face of the southern...

2 days ago - 22 October 2021 | People

Michelline Nawatises Victoria Ndemupa Muhuura was born in Wavis Bay. She attended at Andimba Toivo ya Toivo Secondary School in the Oshana Region, and...

Zozo’s Leather: Your dream product

2 days ago - 22 October 2021 | People

Rivaldo Kavanga Celesty Cupido worked in the tourism industry and realised over the years that many Namibian accommodation establishments do not showcase or sell...

Rising like a phoenix

2 days ago - 22 October 2021 | Business

Mariselle StofbergWilhelmine Mutorwa has used every opportunity she is given to become the best version of herself. For Wilhelmine Mutorwa, giving up has never been...

Africa calls for climate finance...

2 days ago - 22 October 2021 | Economics

ALESSANDRA PRENTICEAfrican countries want a new system to track funding from wealthy nations that are failing to meet a US$100-billion annual target to help the...

EDITORIAL: We are guilty of...

2 days ago - 22 October 2021 | Opinion

A lot needs to be discussed in our country – from race and sexual rights to abortion. The country can’t stop talking, even when such...

Load More