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.
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