Weeklong annual meetings of the International Monetary Fund (IMF) and World Bank kick off in Washington today (Reuters), with a scandal siphoning attention away from the global economic recovery from the pandemic and COVID-19 vaccine distribution. The IMF’s executive board is expected to decide whether Managing Director Kristalina Georgieva will step down after allegations that she pressured World Bank staff to boost China’s ranking in a 2018 report when she was the bank’s CEO.
Georgieva says she “fundamentally” disagrees (IMF) with the allegations, laid out in a World Bank–commissioned audit. The
Financial Times reported that the IMF’s executive board is split over the issue, with Japan and the United States seeking Georgieva’s removal while China, France, Germany, Italy, Russia, and the United Kingdom support her.