#IMF chief called out over pressure to favor China while at #WorldBank

//World Bank leaders, including then-Chief Executive #KristalinaGeorgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released Thursday.

The report, prepared by law firm #WilmerHale at the request of the bank's ethics committee, raises concerns about China's influence at the World Bank, and the judgment of Georgieva - now managing director of the International Monetary Fund - and then-World Bank President #JimYongKim.

...the internal reports raised ethical matters, including the conduct of former Board officials as well as current and/or former Bank staff, management reported the allegations to the Bank’s appropriate internal accountability mechanisms.//

Read more:
https://www.reuters.com/business/sustainable-business/world-bank-kills-business-climate-report-after-ethics-probe-cites-undue-pressure-2021-09-16/

Source: Reuters #Sept16

IMF chief called out over pressure to favor China while at World Bank

World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied "undue pressure" on staff to boost China's ranking in the bank's "Doing Business 2018" report, according to an independent investigation released Thursday.

The report, prepared by law firm WilmerHale at the request of the bank's ethics committee, raises concerns about China's influence at the World Bank, and the judgment of Georgieva - now managing director of the International Monetary Fund - and then-World Bank President Jim Yong Kim.

Source: Reuters #Sep17

https://www.reuters.com/business/sustainable-business/world-bank-kills-business-climate-report-after-ethics-probe-cites-undue-pressure-2021-09-16/

#China #Bank #JimYongKim #Report #IMF

#IMF cuts global growth outlook amid US, #China slowdowns

//Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday [July 26, 2022] to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse...

"The outlook has darkened significantly since April," said IMF chief economist Pierre-Olivier Gourinchas. "The world may soon be teetering on the edge of a global recession, only two years after the last one."

"The world's three largest economies, the United States, China and the euro area are stalling with important consequences for the global outlook," he said at a briefing.

...China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades other than the 2020 pandemic crisis -- due to Covid concerns and the "worsening crisis" in the property sector, the report said.

"The slowdown in China has global consequences: lockdowns added to global supply chain disruptions and the decline in domestic spending are reducing demand for goods and services from China's trade partners," the report said.//

Read more:
https://www.france24.com/en/live-news/20220726-imf-cuts-global-growth-outlook-amid-us-china-slowdowns

Source: France 24 #Jul26

#Economy #Pandemic #Covid19

Is #China becoming the world’s loan shark? The country became the world’s largest creditor in 2017, surpassing the #WorldBank, #IMF, and all Paris Club official creditors combined.

That and much more coming up on NTD Business.

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https://ept.ms/ChinaLoanShark