It cited data irregularities that also boosted rankings of other countries, including Saudi Arabia, the United Arab Emirates and Azerbaijan.
“Business Ready... reflects a more balanced and transparent approach toward evaluating a country’s business and investment climate,” the bank said in a statement. “The main thing that went wrong was the data integrity of Doing Business was compromised,” Mr Norman Loayza, director of the World Bank’s Indicators Group, which leads the project, told Reuters.
The bank will also make available the tools needed by outsiders to replicate the results of the data assessments.
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