Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Believe
  6. News
  7. Summary
    BLV   FR0014003FE9

BELIEVE

(BLV)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

IMF's Georgieva accuses former World Bank President Kim's office of manipulation

09/24/2021 | 08:19pm EDT
FILE PHOTO: IMF Managing Director Kristalina Georgieva talks to Chinese Premier Li Keqiang before a news conference following the

WASHINGTON (Reuters) - IMF chief Kristalina Georgieva criticized as "false and spurious" the findings of an independent probe into allegations that as World Bank head she pressured staff to manipulate data to make China's business climate appear more favorable.

In a statement she plans to present to the executive board of the International Monetary Fund, Georgieva also accused the office of the World Bank's past president, Jim Kong Kim, of manipulation.

She said she intervened to block a proposal from a member of Kim's staff to include Hong Kong data in China's ranking in the World Bank's Doing Business 2018 report, which would have significantly improved its standing. Kim has not responded to requests for comment.

The World Bank last week released a report on the investigation by law firm WilmerHale. It found that senior bank leaders including Georgieva unduly pressured staff to alter data to improve China's ranking in the Doing Business report while the bank was seeking China's support for a capital increase.

Georgieva, then World Bank chief executive, has excoriated the probe publicly and to her staff, but she went into greater detail in the statement to the IMF's executive board, a copy of which was seen by Reuters on Friday.

She said the probe's findings contained "the false and spurious insinuation ... that my colleagues and I at the World Bank would inflate a country's Doing Business ranking in exchange for capital commitments."

"To be clear: no such thing happened and no such thing would ever happen under my leadership," she said.

Georgieva said her effort to prevent Hong Kong data from being added to China's Doing Business ranking demonstrated her concern for preserving the integrity of World Bank data.

The Bulgarian economist, the first person from a developing country to head the World Bank, has faced calls for her resignation over the matter, though former colleagues have spoken out in support of her.

The IMF board met on Tuesday to hear an initial report from its ethics committee and agreed to meet again soon.

The chair of the U.S. House of Representatives Financial Services Committee, Maxine Waters, on Friday said the findings detailing "undue influence by China" at the World Bank and Georgieva's role in "manipulating 'Doing Business' data at the behest of the Chinese government is very troubling."

"This has undermined the reputation of the World Bank, and it has also called into question the current leadership at the IMF, where the integrity of data is critical to its mission, and where undue influence by any self-interested power could put the stability of the global financial system at risk," Waters said.

The World Bank's current president, David Malpass, has said the findings of the WilmerHale investigation speak for themselves, but has not commented in greater detail.

Georgieva said the WilmerHale probe wrongly inferred that she asked bank officials to manage China's expectations about its ranking in the Doing Business report because she was worried that China could withhold support for the capital increase.

Georgieva said she did regret that colleagues at the bank "did not believe that they could speak out to raise with me issues about data integrity," and was committed to fostering better communication.

(Reporting by Andrea Shalal; Editing by Leslie Adler and Cynthia Osterman)

By Andrea Shalal


© Reuters 2021
All news about BELIEVE
11:06aMOLECULIN BIOTECH : Says Annamycin Chemotherapy Showed 'Preliminary Clinical Activity' in ..
MT
11:03aAPPLE : expected to unveil new Macs with more powerful chips
RE
11:02aSterling steadies near 20-month high vs euro on Bailey's fresh rate hike signals
RE
10:43aBRIEF : Bank of Canada's Fall BOS Says Majority of Firms See Inflation Above 2% Believe Dr..
MT
10:36aToday on Wall Street: This is the real test
10:01aNornickel announces palladium challenge contest in partnership with ipmi
DJ
07:03aAMAZON COM : Five U.S. lawmakers accuse Amazon of possibly lying to Congress following Reu..
RE
06:16aRANDSTAD N : Analysis-Central banks and governments in eastern Europe at odds amid inflati..
RE
05:49aTREASURIES-U.S. yield curve flattens as rate hike bets build
RE
04:00aAVENUE SUPERMARTS : India's DMart owner's stock tumbles on valuation worries
RE
More news
Financials
Sales 2021 552 M 641 M 641 M
Net income 2021 -21,1 M -24,5 M -24,5 M
Net cash 2021 262 M 304 M 304 M
P/E ratio 2021 -74,5x
Yield 2021 -
Capitalization 1 669 M 1 936 M 1 937 M
EV / Sales 2021 2,55x
EV / Sales 2022 2,11x
Nbr of Employees 1 370
Free-Float 100%
Chart BELIEVE
Duration : Period :
Believe Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BELIEVE
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 17,42 €
Average target price 21,38 €
Spread / Average Target 22,8%
EPS Revisions
Managers and Directors
Denis Ladegaillerie Chairman & Managing Director
Laurent Taupin Chief Technical Officer
John Doran Director
Kathleen O'Riordan Director
Arnaud Chiaramonti Head-International Promotion
Sector and Competitors
1st jan.Capi. (M$)
BELIEVE0.00%1 936
HYBE CO., LTD.91.56%10 121
SM ENTERTAINMENT CO., LTD.158.15%1 517
JYP ENTERTAINMENT CORPORATION9.24%1 174
AVEX INC.36.01%614
LIVEONE, INC.-11.28%228