International Monetary Fund MD Kristalina Georgieva. Picture: LUDOVIC MARIN/POOL VIA REUTERS/FILE PHOTO
That speech spoke to the value and prestige that governments across the world attached to the report, which purported to rate the business environment of countries. Then things fell apart, and the aftermath threatens the job of one of the most influential figures in international finance, International Monetary Fund head Kristalina Georgieva. It has also cast a shadow over the IMF-World annual meeting that started on Monday.
In a report prepared for the bank and dated September 15, law firm WilmerHale made uncomfortable findings that led to the institution disowning the 2018 and 2020 versions of the Ease of Doing Business publication. Then the law firm goes on to talk of a toxic culture where staff members felt bullied. Georgieva, who has won praise for her efforts in helping economies navigate the impact of Covid-19, has denied all the accusations and has said WilmerHale did not give her a proper right of reply.