{"id":784181,"date":"2021-09-17T15:13:30","date_gmt":"2021-09-17T19:13:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=784181"},"modified":"2021-09-17T15:13:35","modified_gmt":"2021-09-17T19:13:35","slug":"republicans-slam-world-bank-after-probe-shows-china-favoritism","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-slam-world-bank-after-probe-shows-china-favoritism\/","title":{"rendered":"Republicans Slam World Bank After Probe Shows China Favoritism"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frepublicans-slam-world-bank-after-probe-shows-china-favoritism%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=784181&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><ul>\n<li><strong>Two top Republican representatives slammed the World Bank after an investigation showed leaders pressured staff to favor China in a key international report.<\/strong><\/li>\n<li><strong>\u201cThe investigation into former World Bank President Jim Kim\u2019s and former World Bank CEO and current IMF Managing Director Kristalina Georgieva\u2019s involvement with data manipulation for China\u2019s benefit is alarming,\u201d Kentucky Rep. Andy Barr said in a statement.<\/strong><\/li>\n<li><strong>In the World Bank\u2019s 2018 \u201cDoing Business\u201d report, China\u2019s rank was improperly bumped from 85 to 78 after pressure from Georgieva and Kim, the World Bank probe found.<\/strong><\/li>\n<\/ul>\n<p>Two top Republican representatives slammed the World Bank after an investigation showed leaders pressured staff to favor China in a key international report.<\/p>\n<p>The Republicans called upon the Biden administration to look into the matter and to reconsider its relationship with international organizations with strong ties to China.<\/p>\n<p>The World Bank <a href=\"https:\/\/www.worldbank.org\/en\/news\/statement\/2021\/09\/16\/world-bank-group-to-discontinue-doing-business-report\">canceled<\/a> its \u201cDoing Business\u201d report Thursday after an <a href=\"https:\/\/thedocs.worldbank.org\/en\/doc\/84a922cc9273b7b120d49ad3b9e9d3f9-0090012021\/original\/DB-Investigation-Findings-and-Report-to-the-Board-of-Executive-Directors-September-15-2021.pdf\">internal probe<\/a> found its former CEO and current International Monetary Fund (IMF) Managing Director Kristalina Georgieva pressured staff to make China look good in the 2018 edition of the report. The findings also implicated former World Bank President Jim Yong Kim.<\/p>\n<p>\u201cThe investigation into former World Bank President Jim Kim\u2019s and former World Bank CEO and current IMF Managing Director Kristalina Georgieva\u2019s involvement with data manipulation for China\u2019s benefit is alarming,\u201d Republican Rep. Andy Barr of Kentucky, the lead Republican on the House Financial Services Subcommittee on National Security, International Development and Monetary Policy, <a href=\"https:\/\/barr.house.gov\/press-releases?ID=BC11425F-0011-4A97-9AE0-D7BCE9A79919\" target=\"_blank\" rel=\"noopener noreferrer\">said<\/a> in a statement.<\/p>\n<p>\u201cRepublicans had repeatedly warned that under Mr. Kim, who was twice nominated for the World Bank presidency by the Obama-Biden Administration, the Bank was more devoted to fundraising and development fads than delivering results for low-income countries that wanted to grow their way out of poverty,\u201d Barr added.<\/p>\n<p>The \u201cDoing Business\u201d <a href=\"https:\/\/www.doingbusiness.org\/en\/reports\/global-reports\/doing-business-2020\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a> is the World Bank\u2019s flagship publication, which studies the business activity in countries around the world. The <a href=\"https:\/\/openknowledge.worldbank.org\/bitstream\/handle\/10986\/32436\/9781464814402.pdf\">annual report<\/a> <a href=\"https:\/\/openknowledge.worldbank.org\/bitstream\/handle\/10986\/32436\/9781464814402.pdf#page=16\" target=\"_blank\" rel=\"noopener noreferrer\">ranks<\/a> every country in the world on how easy it is to do business there. <strong><a href=\"https:\/\/dailycaller.com\/2021\/04\/13\/john-kennedy-joe-biden-janet-yellen\/\">(RELATED: John Kennedy Urges Biden Administration To Reverse Plan Giving Aid To China, Russia, Iran)<\/a><\/strong><\/p>\n<div id=\"attachment_7284839\" class=\"wp-caption alignnone\" readability=\"33\"><img decoding=\"async\" aria-describedby=\"caption-attachment-7284839\" loading=\"lazy\" class=\"size-full wp-image-7284839\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/09\/GettyImages-1234896863-scaled-1.jpg\" alt=\"German Chancellor Angela Merkel welcomes IMF Director Kristalina Georgieva to the G20 Compact with Africa meeting in Berlin on Aug. 27. (Michele Tantussi\/Pool\/AFP via Getty Images)\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/09\/GettyImages-1234896863-scaled-1.jpg 2560w, https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2021\/09\/GettyImages-1234896863-171x120.jpg 171w, https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2021\/09\/GettyImages-1234896863-620x434.jpg 620w, https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2021\/09\/GettyImages-1234896863-768x538.jpg 768w, https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2021\/09\/GettyImages-1234896863-1536x1075.jpg 1536w, https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2021\/09\/GettyImages-1234896863-2048x1433.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<p id=\"caption-attachment-7284839\" class=\"wp-caption-text\">German Chancellor Angela Merkel welcomes IMF Director Kristalina Georgieva to the G20 Compact with Africa meeting in Berlin on Aug. 27. (Michele Tantussi\/Pool\/AFP via Getty Images)<\/p>\n<\/div>\n<p>In the 2018 report, China\u2019s rank was improperly bumped from 85 to 78 after pressure from Georgieva and Kim, the World Bank probe found. At the time of the 2018 publication, Georgieva was engrossed in negotiations with China over the nation\u2019s funding for the World Bank, which it threatened to strip.<\/p>\n<p>Georgieva <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2021\/09\/16\/pr21268-statement-imf-md-kristalina-georgieva-report-data-irregularities-doing-business-2018-2020\">denied the allegations<\/a> and said she disagreed \u201cfundamentally\u201d with the probe\u2019s findings, but she chose not to elaborate.<\/p>\n<p>\u201cThis alarming report raises serious questions about Director Georgieva\u2019s motivations during her time at the World Bank and, if these allegations are true, then the IMF board should promptly assess her service in the top job there,\u201d said Republican Rep. French Hill of Arkansas, who is also a member of the Financial Services Committee GOP leadership team.<\/p>\n<p>\u201cUnfortunately, these events are not isolated \u2013 we\u2019ve already seen how the Chinese Communist Party systematically works to hijack multilateral institutions from the World Health Organization to the United Nations,\u201d he continued. <strong><a href=\"https:\/\/dailycaller.com\/2021\/08\/13\/joe-biden-china-coronavirus-origins-who-investigation-lab-leak\/\">(RELATED: EXCLUSIVE: Biden Admin Hits China For Blocking Another WHO COVID-19 Origins Investigation)<\/a><\/strong><\/p>\n<p>Barr said the investigation was a \u201cwake-up call\u201d for the Biden administration, which he said has been busy working with the World Bank and IMF to virtue signal about climate change. He added the administration should take multilateral organizations \u201cfar more seriously.\u201d<\/p>\n<p>The Treasury Department, which has a large stake in the World Bank, said the investigation\u2019s findings were worrisome, The Wall Street Journal <a href=\"https:\/\/www.wsj.com\/articles\/world-bank-cancels-flagship-doing-business-report-after-investigation-11631811663\">reported<\/a>. China similarly expressed concerns, but didn\u2019t address whether it had pressured the World Bank to change its rankings in 2018.<\/p>\n<p>\u201cWe hope that the World Bank will conduct a comprehensive investigation of relevant issues in strict accordance with the principles of professional, objective, fair and transparent internal review, based on facts and rules, so as to better safeguard the professionalism and credibility of the Doing Business Report and the reputation of the World Bank and its member countries,\u201d Chinese Foreign Ministry Spokesperson Zhao Lijian <a href=\"https:\/\/www.fmprc.gov.cn\/mfa_eng\/xwfw_665399\/s2510_665401\/2511_665403\/t1907901.shtml\">told<\/a> reporters Friday.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two top Republican representatives slammed the World Bank after an investigation showed leaders pressured staff to favor China in a key international report. \u201cThe investigation into former World Bank President &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-784181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/784181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=784181"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/784181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=784181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=784181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=784181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}