The Treasury Department is weighing whether the United States should request the International Monetary Fund’s chief to step down over an ethics scandal stemming from her time as chief executive for the World Bank, Bloomberg reported, citing people familiar with the discussions.
IMF Managing Director Kristalina Georgieva allegedly put pressure on World Bank's staff to adjust China’s ranking in the bank's "Doing Business 2018" report, according to the findings of a World Bank-commissioned investigation conducted by WilmerHale law firm.
Georgieva said she disagreed "fundamentally with the findings and interpretations” of the WilmerHale report and had spoken with the executive board at the IMF about it, according to Reuters.
The discussions within the Treasury Department are significant because the U.S. is the dominant shareholder of the IMF, with 16.5 percent of the votes.
“There is a review currently underway with the IMF board and Treasury has pushed for a thorough and fair accounting of all the facts,” Treasury spokeswoman Alexandra LaManna told Bloomberg. “Our primary responsibility is to uphold the integrity of international financial institutions.”
A spokesperson for the IMF directed The Hill toward its Wednesday press release, which said its executive board spoke with Georgieva regarding the WilmerHale report and noted that “the Executive Board remains committed to a thorough, objective, and timely review and expects to meet again soon for further discussion.”
The executive board is expected to meet again on Friday, when its directors may come to an agreement on Georgieva's future, a source told Bloomberg.
The Hill has reached out to the Treasury Department and World Bank for comment.
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October 07, 2021 at 07:30AM
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