IMF Decision on Georgieva’s Fate to Come as Early as Monday
IMF Decision on Georgieva’s Fate to Come as Early as Monday
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The IMF’s executive board plans to deliberate Monday over the fate of the lender’s chief, Kristalina Georgieva, after discussions Sunday with her and the law firm that alleged improper actions in her previous job at the World Bank, according to a person familiar with the talks.
The board, with 24 directors representing the fund’s 190 member nations, is trying to complete its review as the International Monetary Fund and World Bank start their annual meetings -- where finance ministers and central bankers from across the world will gather in Washington starting on Monday, with dozens of events planned.
The board meeting on Sunday with law firm WilmerHale ran for several hours in the afternoon, the person said on condition of anonymity because the talks were private.
“The board made further significant progress today in its assessment with a view to very soon concluding its consideration of the matter,” fund spokesman Gerry Rice said in a statement Sunday, confirming that the board had met with both the firm and Georgieva.
A French finance ministry official said the review by the law firm didn’t provide details on precise elements to call into question Georgieva’s conduct directly, which is why France has supported her.
The official said France wants a decision on the IMF chief’s future to be taken very soon.
The board met with WilmerHale and Georgieva last week as well. The members are discussing an audit that the law firm did for the World Bank, based on a review of 80,000 documents and more than 30 interviews. It accuses Georgieva of pressuring staff to manipulate data for the annual “Doing Business” report to benefit China when she was a top official at the development lender. Georgieva, who joined the IMF in 2019, has repeatedly denied any wrongdoing.
Treasury Department officials last week were debating whether the U.S., the IMF’s largest shareholder, should ask Georgieva to resign, Bloomberg reported on Wednesday, citing people familiar with the situation.
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