RELEASE: Rep. Hill Statement on Failure to Remove IMF Director Georgieva
WASHINGTON, D.C. , October 12, 2021
Rep. French Hill (AR-02) issued the following statement after the International Monetary Fund (IMF) Executive Board determined Managing Director Kristalina Georgieva would be staying in her position following revelations last month that she pressured staff to manipulate the 2018 Doing Business Report to favor China while she was the Chief Executive Officer of the World Bank.
“Director Georgieva’s continued tenure as head of the IMF weakens the credibility of the institution and every future decision will now be shrouded in a cloud of uncertainty and skepticism as to whether Director Georgieva is acting in the best interests of our global financial institutions. I would like to know how the IMF came to its decision to retain Director Georgieva as last month’s report by WilmerHale raised serious concerns as to her motivations while at the World Bank. Despite its lack of commitment to playing by the rules, the Chinese Communist Party feels entitled to greater influence in our multilateral institutions like the IMF, World Health Organization, and United Nations, and certainly doesn’t need the assistance of anyone to tilt the playing field in their favor.”