2021-10-13

America is frustrated! The IMF executive board has made clear its support for president Georgieva

By yqqlm yqqlm

America is frustrated! The Executive Board of the International Monetary Fund (IMF) issued a statement on the 12th, saying that it “reiterated its confidence in President Georgieva’s leadership and ability to continue to effectively perform her duties”, so as to put an end to the farce of the accusation of “favoring China”

[Xiao Qiang, Wang Yi, special correspondent of the global times in the United States] “Favoring China” and “putting pressure on China to improve the ranking of China’s business environment” The farce has come to an end. According to foreign media reports, European countries, China and Russia have expressed support for georgiyeva, and the role of the United States in the farce has attracted attention. Even after the IMF reiterated its support for georgiyeva, U.S. officials and parliamentarians still tried to continue to stir up this topic.

9812b0f5fdaf4b288c966cbdfe08f09 - America is frustrated! The IMF executive board has made clear its support for president Georgieva

Agence France Presse reported that in recent two months, georgiyeva’s fate has been in suspense. She is a Bulgarian economist and the first IMF president from emerging market countries. She once served as the chief executive of the world bank. On September 16, the world bank entrusted the US weikaiping and Erde law firm to write a note According to the investigation report, during her tenure at the world bank, Georgieva put pressure on her subordinates to improve China’s influential business environment report at the world bank The IMF Executive Board said in a statement on the 12th that after extensive discussions with Georgieva and the U.S. law firm that issued the report, Georgieva believed that during her tenure as CEO of the world bank, Georgieva was dealing with the “2018 business environment report suspected of being manipulated” “After studying all the evidence submitted, the executive board reiterated its confidence in the president’s leadership and ability to continue to effectively perform his duties,” the statement said. “The Executive Board held a meeting today to end the review of relevant issues.” Georgieva thanked her for this on the 12th and reiterated that the relevant allegations were “groundless”

financial times He said that in order to reach a consensus on georgiyeva’s fate, the IMF executive board has been tangled for several days, and there are fierce differences among its 24 directors. France, Germany, Italy, Britain, China and Russia stand on one side and support georgiyeva, while the two largest shareholders of the IMF, the United States and Japan, boycotted her and called for a longer time “Strong review”. Reuters said that European support is important because the IMF president is traditionally selected by European governments, while the US government nominates the president of the world bank.

us “politics” News Network said on the 12th that EU countries led by France have made arduous efforts to ensure that Georgieva becomes the president of the IMF. All parties are worried that China, Japan and Singapore may strive for this position. It is reported that on the IMF executive board, countries have certain voting rights according to their shareholding in the IMF. However, without the help of the United States, Europe would not have the right to vote The covid-19 vote was not enough to keep Jean Georgi Ieva in her job. Bloomberg said on 12 that the United States told IMF executive board that it did not seek to remove Georgi Ieva. During the IMF period, Georgi Ieva had won praise for helping the emerging and developing economies to resist the new crown epidemic. Earlier this year, she first allocated 650 billion dollars in special terms. Drawing right.

the New York Times said on the 11th that the United States is the largest shareholder of the IMF. After Georgieva was accused, the United States refused to express public support for her, but ultimately did not ask her to step down. Georgieva’s failure to step down “may bring a political blow to the Biden government”, because Republicans and Democrats in the United States Congress urged the Biden government to respond to it “Full accountability”. The Financial Times said that the Biden administration’s decision not to insist on letting Georgieva step down immediately aroused strong opposition from Republicans in Congress. McHenry, chairman of the Financial Services Committee of the US House of Representatives, said, “this decision badly reflects the US leadership in the IMF. The US government ignored the concerns of both parties and succumbed to the pressure of other countries.”

US Treasury Secretary Yellen issued a statement on the 11th, admitting that there was no direct evidence to require the IMF to change its leadership, but said the relevant investigation proposed “reasonable” As a matter of concern, the United States will continue to evaluate any new evidence related to this allegation and closely monitor the future performance of the IMF. Positive measures must be taken to strengthen the data integrity and credibility of the IMF.

in this process, many people in the industry expressed support for Georgieva. “Voice of Germany” said that it had helped supervise the 2017 business environment report Devarajan, an official of the world bank who wrote the book, and Stiglitz, a former chief economist of the world bank, publicly supported Georgieva and believed that the relevant allegations were untrue. Jeffrey Sachs, director of the center for sustainable development of Columbia University, wrote in the financial times at the end of September that he was Anti China manic and “anti Beijing hysteria” This is the fundamental reason why some people in the United States oppose the president of the IMF. This is not about the sanctity of the world bank’s data or her management level, but about China’s role in a multilateral institution headquartered in Washington. Many people in the United States Congress want georgiyeva to resign because she is not against Beijing.

the IMF and the world bank will hold their annual meeting in October 2021 From 11 to 17 October in Washington, Bloomberg said that despite its support, the accusation against Georgi Ieva and her subsequent defence of the position could still cast a shadow over the annual meetings of the world bank and IMF. The two agencies are currently shouldering the task of supporting the global economy in overcoming COVID-19. These allegations may also affect Georgi Ieva’s role in IMF. Remaining term