IMF reaffirms “its full confidence” in Managing Director Kristalina Georgieva


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The board of directors of the International Monetary Fund announced Monday night that it is renewing “Your full confidence” in Kristalina Georgieva, That is how she remains in the position of managing director of the organization despite the accusations of irregularities to which she was the object.

The governing bodies of the Washington-based institution considered that the information presented during the investigation did not allow to conclude “An inappropriate role” of the Bulgarian economist. For her part, Georgieva immediately accepted this decision, saying that these accusations were “unfounded”.

The question of whether Georgieva, 68, would remain at the helm of the Fund had been looming since the publication, on Sept. 16, of the findings of an investigation by the WilmerHale law firm, conducted at the request of the World Bank’s ethics committee.

In this investigation, she was accused of having manipulated data from the “Doing Business” report to favor China when she was CEO of the World Bank. Georgieva, managing director of the IMF since October 1, 2019, has always denied the acts of which she was accused.

On Monday night, the Fund said the decision was made after the eighth board meeting on the issue, “as part of the board’s commitment to conduct a comprehensive, objective and accurate review.”

“The Board concluded that the information presented during its review did not conclusively demonstrate that the CEO played an inappropriate role with respect to the ‘Doing Business 2018’ report, when she was CEO of the World Bank,” according to the press release.

“After examining all the evidence presented, the Board of Directors reaffirms its full confidence in leadership and the ability of the Director-General to continue to perform her duties effectively, “the text adds.

The Council added that it is confident “in Georgieva’s commitment” to “uphold the highest standards of governance and integrity at the IMF.”

“Trust and integrity are the cornerstones of multinational organizations that I have served faithfully for more than four decades,” Georgieva recapitulated.

He stressed that this was “a difficult episode on a personal level” and expressed his “unwavering support for the independence and integrity” of the institutions.

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