Bipartisan Senators Call on Biden to Seek ‘Full Accountability’ in World Bank Data Controversy

A bipartisan pair of top senators on Monday called on President Joe Biden to “ensure full accountability” after an investigation found that World Bank officials, including then-Chief Executive Kristalina Georgieva who is now the managing director of the International Monetary Fund (IMF), applied “undue pressure” on staff to boost China’s standing in a report. The report (pdf) by law firm WilmerHale found that Georgieva, in her former job at the World Bank, pushed to boost China’s ranking in the bank’s “Doing Business 2018” report on country investment climates, which was released in October 2017. China’s ranking in the report should have been seven places lower, at 85th rather than remaining at 78th, the World Bank said in a review released in December 2020. The law firm’s report found China’s boosting appeared to be “the product of two distinct types of pressure applied by bank leadership on the Doing Business team.” It said Georgieva and …

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China Evergrande Halts Electric Car Unit’s Listing Plan, Shares Tumble

Tue Sep 28 , 2021
Shares in Evergrande’s electric vehicle unit tumbled on Sept. 27 in Hong Kong after suspending plans for a secondary listing on Shanghai’s Star Market due to a “serious shortage of funds.” The pulled listing is the latest blow to the unit that once had a higher stock market valuation than […]
China Evergrande Halts Electric Car Unit’s Listing Plan, Shares Tumble

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