WASHINGTON—Global economic growth projections from the International Monetary Fund will likely be downgraded due to the emergence of the Omicron variant of the coronavirus, IMF Managing Director Kristalina Georgieva said on Friday. “A new variant that may spread very rapidly can dent confidence, and in that sense, we are likely to see some downgrades of…
Omicron Variant Likely to Usher Growth Downgrades: IMF’s Georgieva
December 4, 2021
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US Treasury Will Hold IMF Chief Accountable for Integrity Changes: Official
October 21, 2021
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WASHINGTON—The second-ranking U.S. Treasury official told senators on Tuesday that the agency would hold International Monetary Fund Managing Director Kristalina Georgieva accountable for changes needed to safeguard IMF integrity in the wake of a World Bank data-rigging scandal. “We did not find that it was appropriate at this point to remove the (IMF) managing director,”…
G20 Backs IMF Chief’s New Trust to Reach Broader Range of Countries in Need
WASHINGTON—IMF chief Kristalina Georgieva on Wednesday won the endorsement of the Group of 20 major economies for a new trust that will allow rich IMF members to donate their share of newly created emergency reserves to a broader range of countries in need. G20 finance officials backed the new Resilience and Sustainability Trust (RST) in…
IMF Chief Expects Members to Reach $100 Billion Target for Shifting Reserves to Vulnerable Countries
October 13, 2021
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WASHINGTON—International Monetary Fund Managing Director Kristalina Georgieva on Wednesday said she expects advanced economies to reach their target of shifting $100 billion of $650 billion in newly created emergency reserves to countries in need. Georgieva told reporters she was encouraged by the IMF executive board’s consideration of a new Resilience and Sustainability Trust (RST) that would…
Yellen Tells IMF’s Georgieva Data-Rigging Probe Raised ‘Legitimate’ Concerns: Treasury
October 12, 2021
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WASHINGTON—U.S. Treasury Secretary Janet Yellen told International Monetary Fund Managing Director Kristalina Georgieva on Monday that a law firm’s report into World Bank data-rigging allegations against the IMF chief “raised legitimate issues and concerns” but a lack of direct evidence meant a leadership change was unwarranted. Yellen said in the statement that “proactive steps must…
IMF Board Had ‘Full Confidence’ in Georgieva After Investigation Into China Data-Rigging Claims
October 12, 2021
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The International Monetary Fund’s (IMF) executive board on Oct. 11 said it has “full confidence” in Managing Director Kristalina Georgieva following an investigation into allegations that she applied “undue pressure” on staff to boost China’s standing in the bank’s “Doing Business 2018” report. A report (pdf), prepared by outside law firm WilmerHale at the request of the World Bank’s…
Georgieva’s Future at Helm of IMF Still Unclear After Marathon Board Meeting
WASHINGTON—The International Monetary Fund’s executive board ended a five-hour meeting about the future of Managing Director Kristalina Georgieva without a decision on Friday, saying it would seek more information about claims she pressured World Bank staff to alter data to benefit China in her previous role. The IMF said the board had made “significant progress”…
IMF Board Seeks More Details on Claims Against Georgieva: Statement
October 9, 2021
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WASHINGTON—The International Monetary Fund’s executive board adjourned without a decision about the future of Managing Director Kristalina Georgieva on Friday and said it would seek more information about claims that she pressured World Bank staff to alter data to benefit China in her previous role. The IMF said the board had made “significant progress,” but…
IMF Sees Global GDP in 2021 Slightly Below Prior Forecast of 6 Percent
October 5, 2021
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WASHINGTON—The International Monetary Fund expects global economic growth in 2021 to fall slightly below its July forecast of 6 percent, IMF chief Kristalina Georgieva said on Tuesday, citing risks associated with debt, inflation, and divergent economic trends in the wake of the COVID-19 pandemic. Georgieva said the global economy was bouncing back but the pandemic…
The IMF Is Digitizing Your Future and Finances
Sponsored Content There’s been plenty of chatter concerning the International Monetary Fund (IMF). These “discussions” range from criticisms to dystopian warnings. No matter what degree of negativity you may have received from these messages, they point to a common “endgame”—a Bretton Woods 2.0, a concept introduced by IMF Director Kristalina Georgiev in her article, “A…
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