IMF’s board approves allowing Georgieva to remain as head

By MARTIN CRUTSINGER and ELAINE KURTENBACH
AP Business Writers

WASHINGTON (AP) — The International Monetary Fund has expressed confidence in its managing director in response to allegations World Bank staff were pressured to change business rankings for China in an effort to placate Beijing. The IMF’s 24-member executive board said Tuesday its review “did not conclusively demonstrate that the managing director, Kristalina Georgieva, played an improper role” in the situation in her former role as a top World Bank official. It said it “reaffirms its full confidence in the managing director’s leadership and ability to continue to effectively carry out her duties.” But it said the investigation into possible misconduct by World Bank staff was continuing. Georgieva denies any wrongdoing.