IMF board to meet Sunday for more talks on Georgieva’s future

Washington, Oct. 10 (BNA) The Executive Board of the International Monetary Fund will meet again on Sunday with Managing Director Kristalina Georgieva and the law firm who says she pressured World Bank staff to change data in favor of China while she served as the bank’s CEO. sources familiar with the plan.

A decision on Georgieva’s future at the global lender is not expected until Monday, at the earliest, as finance ministers and other senior officials from many of the IMF’s 190 member countries gather in Washington for the IMF and Bank’s annual fall meetings. International. Sources according to Reuters.

The Executive Board of the International Monetary Fund discussed the matter for five hours on Friday before adjourning the session and requesting more “explanatory details”.

The scandal threatens to cast a shadow over high-level meetings, where officials plan to discuss the global economy, the ongoing COVID-19 pandemic, and global tax issues in discussions that will take place partly in person and online.

In regular years, the event attracts about 10,000 people to Washington.

Georgieva has vehemently denied the allegations, which date back to 2017, when she was chief executive of the World Bank.

Her attorney claims that the investigation by the law firm Wilmerhill violated World Bank staff rules in part by denying her an opportunity to respond to the charges, an assertion of a dispute in which Wilmerhill.

The sources, who spoke on condition of anonymity, said Georgieva and Wilmerhill’s attorney will separately attend Sunday’s board meeting. Neither Georgieva nor the company could immediately be reached for comment.

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France and some other European governments on Friday backed the Bulgarian economy’s remaining head of the International Monetary Fund, while other officials sought more time to compare its accounts as well as those of a law firm over data breaches in the World Bank’s now-cancelled flagship “Doing Business” programme. Report.

Former British Prime Minister Gordon Brown tweeted on Friday, calling Georgieva a “prominent international government employee… who served with distinction as Commissioner and Vice Chair of the EU_Commission, then Managing Director of WorldBank and now Head of IMFNews.”

The US Treasury, which controls 16.5% of IMF shares, declined to comment after Friday’s meeting.

Treasury spokeswoman Alexandra Lamana said this week that the department had “pushed for a comprehensive and fair accounting of all facts” in the review, stressing its interest in preserving “the integrity of international financial institutions.”

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