World Bank And IMF Face Fight For Survival During US-China Rivalry

Kristalina Georgieva’s alleged sins may look trifling to some. The IMF’s managing director is accused of having manipulated the World Bank’s Doing Business index in 2018, when she was the institution’s CEO, to give China a higher ranking than it merited. Compared to Dominique Strauss-Kahn, one of her predecessors, who in 2011 was accused of sexual assault in New York, or Rodrigo Rato, an earlier occupant, who was jailed for embezzlement, Georgieva’s clerical meddling looks like a victimless misdemeanour. Yet in geopolitical terms, her fate will be of far greater consequence.

An independent report published last month claims Georgieva interfered heavily in the IMF’s Doing Business ranking to appease China in the midst of trying to secure a capital increase from Beijing. It is doubtful this would have generated anything like this fuss had Georgieva interfered on behalf of any other country, let alone kept its ranking at…

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