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World Bank cancels business report after investigation

Buck

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Filed Under: When Things Don't Look That Good, Simply Change The Numbers...


The World Bank is canceling a prominent report on business conditions around the world after investigators found staff members were pressured by the bank’s leaders to alter data about China and some other governments

Staff members changed data on China to improve its ranking under pressure from the office of then-World Bank President Jim Yong Kim and from then-Chief Executive Kristalina Georgieva and one of her advisers, an investigation conducted by Washington law firm WilmerHale for the bank concluded.

The World Bank, headquartered in Washington, is one of the world’s biggest sources of development funding. “Doing Business,” which looks at taxes, regulation and other business conditions, is cited by some governments in trying to attract investment.

China has tried over the past two decades to increase its influence over international institutions including the IMF, World Health Organization and their policies.

The changes in the 2018 report followed lobbying by China for a better ranking and came ahead of a campaign by the World Bank to raise capital in which Beijing was expected to play a “key role,” the report said. China is the bank’s third-largest shareholder after the United States and Japan.

Changes by analysts who prepared the 2018 report raised China’s ranking by seven places to No. 78, according to the report. Other changes affected rankings of Azerbaijan, the United Arab Emirates and Saudi Arabia.


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o.k.


note the Post Date: 9-17-2021, but note the date of the report: 2018 ^ ^ ^
 

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The World Bank, about as worldly as baseball's World Series.