US Treasury to hold IMF chief accountable for integrity changes – official

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WASHINGTON, Oct. 19 (Reuters) – The second U.S. Treasury official told senators on Tuesday that the agency would hold International Monetary Fund Managing Director Kristalina Georgieva accountable for the changes needed to protect the integrity of the IMF following a World Bank data rigging scandal.

“We did not find it appropriate at this stage to remove the managing director (of the IMF),” US Assistant Secretary of the Treasury Wally Adeyemo said during a hearing before the US Senate Banking Committee.

“But we made it clear during these meetings, and directly to the CEO, that changes need to be made to ensure that the rights of whistleblowers are protected and the integrity of institutions is protected, which is our goal. paramount, ”said Adeyemo.

Adeyemo’s comments highlighted continued pressure from the Biden administration on Georgieva after the IMF board cleared her last week of wrongdoing over allegations

that when she was managing director of the World Bank in 2017, she put “undue pressure” on bank staff to change the data to improve China’s ranking in the “Doing Business” report. Now canceled.

“We will hold her and the other leaders of the international financial institutions accountable for these changes,” Adeyemo said.

An investigation into irregularities in “Doing Business” data, led by law firm WilmerHale, is continuing and the firm is expected to issue a second report into possible misconduct by World Bank staff.

Adeyemo’s boss, US Treasury Secretary Janet Yellen, called last week at the annual IMF and World Bank meetings for firm action by the two institutions to protect data integrity and prevent behavior. reprehensible as a result of the scandal.

Georgieva told Reuters last week that the IMF has strong controls and strong internal protections for whistleblowers, but will work with staff to bolster the fund’s credibility.

Reporting by David Lawder; edited by Jonathan Oatis and Steve Orlofsky

Our Standards: Thomson Reuters Trust Principles.


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