Finance

IMF board lets top woman Georgieva dangle for a while

Yesterday, the board of the International Monetary Fund, which helps countries in need with loans and reforms, discussed what should be done with the top woman, but there is no solution yet.

China higher ranking

Georgieva came under a magnifying glass last month for allegedly exerting pressure during her time at the World Bank to portray China more positively in an important and authoritative report.

She allegedly pushed for China to get a higher ranking in the Doing Business report. This makes it seem like China is a better place to do business than it actually is.

At least, that’s the allegation. The Bulgarian is defending the allegations, saying they are false.

Need more info

Over the past few days, the IMF board has held lengthy talks with Georgieva and the law firm that investigated the preparation of the Doing Business report. That still did not lead to a final conclusion.

In a short statement, the IMF says that “significant progress” has been made, but that additional information is still being requested to clarify everything.

European support

Georgieva is said to have secured the support of France, Germany, Italy and the United Kingdom, sources told Reuters. That’s important, traditionally Europe chooses the boss of the IMF. ‘Sister institute’ the World Bank is awarded to an American.

However, it seems that it is precisely the Americans who have serious reservations about Georgieva.

Dijssebloem

Georgieva has been the chief executive of the IMF since 2019. It was close to losing out to the Dutch ex-Minister of Finance Jeroen Dijsselbloem. For a long time he seemed to have excellent papers, but his immense unpopularity with countries in southern Europe eventually cost him the top position.

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