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The Treasury Department is questioning whether the United States should ask the head of the International Monetary Fund to step down over an ethics scandal stemming from his tenure as managing director of the World Bank, Bloomberg reported, citing people familiar with the matter. the discussions.
IMF Managing Director Kristalina Georgieva has reportedly pressured World Bank staff to adjust China’s ranking in the bank’s “Doing Business 2018” report, according to the findings of a Investigation commissioned by the World Bank and conducted by the law firm WilmerHale.
Georgieva said she did not “fundamentally agree with the conclusions and interpretations” of the WilmerHale report and that she had discussed them with the IMF board, according to Reuters.
Discussions within the Treasury Department are important because the United States is the dominant shareholder of the IMF, with 16.5% of the vote.
“A review is currently underway with the IMF board and the Treasury has been pushing for thorough and fair accounting of all facts,” Treasury spokeswoman Alexandra LaManna told Bloomberg. “Our primary responsibility is to preserve the integrity of international financial institutions.
An IMF spokesperson directed The Hill to its press release on Wednesday, which said its board has spoken to Georgieva about the WilmerHale report and noted that “the Board remains committed to conduct a thorough, objective and timely review and plans to meet again soon for further discussion.
The board is expected to meet again on Friday, when its directors could come to an agreement on Georgieva’s future, a source told Bloomberg.
The Hill has contacted the Treasury Department and the World Bank for comment.
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