WASHINGTON: The International Monetary Fund said Friday it will decide"very soon" whether its embattled managing director Kristalina Georgieva keeps her job.
An investigation by a law firm has concluded that she manipulated data in favour of China while in a senior role at the World Bank. The IMF Executive Board said after a meeting Friday that it has made"significant progress" in its assessment of the case but agreed"to request more clarifying details with a view to very soon concluding its consideration of the matter.
The law firm found that Georgieva along with her associate Simeon Djankov, a former Bulgarian finance minister who created the report, and Jim Yong Kim, then-president of the bank, pressured staff to change the calculation of China's ranking to avoid angering Beijing. The push came while bank leadership was engaged in sensitive negotiations with Beijing over increasing the bank's lending capital.The Executive Board could meet again Saturday, a source close to the matter said on condition of anonymity.The United States, a key member of the IMF, has not yet stated its position on this controversy, according to two sources with knowledge of the situation.