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Kristalina Georgieva saves her place as IMF Managing Director

After almost a month of speculation, the International Monetary Fund is finally keeping its head. The institution’s board of directors announced Monday evening that it was renewing “its full confidence” in Kristalina Georgieva, thus maintained in the post of director general despite accusations of irregularities to which she was the subject.

The governing bodies considered that the information presented during the investigation did not allow to conclude to “an inappropriate role” of the Bulgarian economist. For her part, Kristalina Georgieva immediately welcomed this decision saying that these allegations were “unfounded”.

Eight meetings to decide

The question of his continued leadership of the Fund had been raised since the publication, on September 16, of the conclusions of an investigation by the law firm WilmerHale, carried out at the request of the World Bank’s ethics committee. She was accused of manipulating data from the “Doing Business” report to favor China when she was managing director of the World Bank. The boss of the IMF has always denied the facts with which she was accused.

On Monday evening, the Fund said the decision was taken after an eighth board meeting on the issue, “as part of the board’s commitment to conduct a thorough review. , objective and precise ”. “The Board of Directors considered that the information presented during its review did not conclusively demonstrate that the CEO played an inappropriate role regarding the ‘Doing Business 2018’ report”.

“A difficult episode on a personal level”

Thus, “after examining all of the evidence presented, the Management Board reaffirms its full confidence in the leadership and the ability of the Director General to continue to perform her duties effectively”. The Council also adds that it has confidence “in the commitment” of Kristalina Georgieva “to maintain the best standards of governance and integrity at the IMF”.

“Trust and integrity are the cornerstones of the multinational organizations that I have faithfully served for over four decades,” responded the CEO. She further underlined that this affair was “a difficult episode on a personal level” while expressing her “unwavering support for the independence and integrity” of the institutions.

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