Investigation discovers “extreme pressure” from World Bank leaders to boost China’s business rankings

Texas News Today

FILE PHOTO: The Chinese flag is seen in Beijing, China on April 29, 2020. Reuters / Thomas Peter / FILE PHOTO

September 16, 2021

WASHINGTON (Reuters) – World Bank leaders in their 2020 report aim to improve the ranking of the World Bank’s Doing Business 2018 and other countries, according to a study conducted by law firm Wilmer Hale. “Extreme pressure” was applied to ensure change.

The report cited “direct and indirect pressure” from senior officials at the then World Bank Governor Jim Yong Kim to change the report’s methodology to raise China’s score. He said it was likely to be on his instructions.

CEO Kristalina Georgieva (now managing director of the International Monetary Fund) and a key adviser at the time were replaced “with some changes to China’s data points” at the time the banks were exploring. It turned out that he pressurized the staff to take it up. China’s support for significant capital growth.

Georgieva said in a statement that she rejected the findings and met with the IMF’s board to discuss the issue.

(Reporting by Andrea Schallal and David Lauder)

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