Focused On Global Challenges, Says IMF Head Georgieva After Receiving Board's Backing
Fully focused on serious global challenges, International Monetary Fund head Kristalina Georgieva said on Tuesday after the fund's executive board expressed its full confidence in her leadership.The IMF executive board on Monday cleared Ms Georgieva, the fund's managing director, of wrongdoing in a World Bank data-rigging scandal that occurred while she was serving as chief executive of the multilateral development bank. "We have difficult problems to wrestle with and we need the strong standing of the institution to serve the membership," Ms Georgieva told Reuters in an interview.
Ms Georgieva, a Bulgarian economist and the first person from a developing country to head the global crisis lender, said she plans to meet with IMF staff on Monday after the first week of the IMF and World Bank annual meetings."I'm looking forward," she said, underscoring her concerns that widening divergence between the economic performance of advanced economies and developing ones could jeopardize the global recovery from the COVID-19 pandemic.
Asked if the IMF's credibility had been harmed by the saga, Ms Georgieva said the alleged data-rigging had taken place in one specific World Bank product, the flagship Doing Business reports, which had faced criticism in the past.
She said she had "absolutely full confidence" in the integrity of IMF data. "I think we will be judged on the totality of our work," she said, adding that the response to the fund's World Economic Outlook on Tuesday and her engagements with civil society organizations and government officials reflected a continuing "strong, built-over-decades foundation of trust" in the IMF.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
