World Bank applied 'undue pressure' on staff to boost China's ranking in the bank's 'Doing Business 2018' report, investigation finds.
WASHINGTON — World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied"undue pressure" on staff to boost China's ranking in the bank's"Doing Business 2018" report, according to an independent investigation released Thursday.
The U.S. Treasury Department, which manages the dominant U.S. shareholdings in the IMF and the World Bank, said it was analyzing what it called the"serious findings."cited"direct and indirect pressure" from senior staff in Kim's office to change the report's methodology to boost China's score, and said it likely occurred at his direction.
The"Doing Business" report ranks countries based on their regulatory and legal environments, ease of business startups, financing, infrastructure and other business climate measures. The WilmerHale report said the push to boost China's ranking came at a time when the bank's management was"consumed with sensitive negotiations" over a major capital increase, and China's disappointment over a lower-than-expected score.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Bank kills business climate report after ethics probe cites 'undue pressure' on rankingsThe World Bank Group ended publication of its 'Doing Business' report on country investment climates after a probe of data irregularities.
Read more »
World shares slide on China investment worriesGlobal share markets edged lower globally on Thursday as concerns about investments in China and a mixed day on Wall Street outweighed positive economic data in the United States.
Read more »
America's central bank helped the world's wealthy get richer during COVIDBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Common Medical Procedures And What They Cost Around The WorldShort answer: more money than you got.
Read more »
“The Mafia of the Acting World”: Hollywood’s Secret Loop GroupsWelcome to the insular world of background voice actors, where major players can rake in up to $1 million a year and 'no one gives up their spots, you have to kill someone to get in.'
Read more »
'Livestreaming in an Amazon World' Panel Set for 2021 Billboard Latin Music Week. Guaynaa_ and DimeloFlow will join Erik Bankston, Joshua Mendez and Cristina Martín to discuss gaming, livestreams & more partner presented by amazonmusic at BillboardLatinWeek. Details:
Read more »