Less than a month after an independent inquiry commissioned by the World Bank found that she had a central role in manipulating its 2018 Doing Business survey, the decision was made regarding her ability to continue leading the IMF. Despite concerns about her judgment, the IMF's executive board ultimately decided that there was not enough conclusive evidence to prove that she had acted improperly. The board expressed full confidence in her leadership and ability to carry out her duties effectively, emphasizing her commitment to maintaining high standards of governance and integrity. Georgieva, a Bulgarian economist, received strong support from many of the IMF's shareholders, including France, which had pushed for her appointment in 2019. The United States, as the fund's largest shareholder, did not publicly support Georgieva after the allegations but did not call for her removal. Janet Yellen, the Treasury Secretary, spoke with Georgieva and acknowledged that the World Bank investigation raised concerns. Yellen stated that without further evidence of Georgieva's involvement in data manipulation, there was no reason to change leadership. This decision could have political implications for the Biden administration, as both Republicans and Democrats in Congress had requested full accountability in the matter. The Biden administration and lawmakers from both parties have expressed worries about China's increasing economic power and influence in global organizations. Officials at the Treasury Department have been discussing the seriousness of the situation for weeks, maintaining that the investigation into Georgieva's actions at the World Bank should be allowed to proceed. The World Bank's Doing Business report evaluates the business environment in various countries, with developing nations placing importance on their rankings to attract foreign investment. During the time of the alleged manipulation, World Bank officials were focused on negotiations for a capital increase and were under pressure to avoid upsetting China, which was ranked 78th in 2017 and was expected to drop in the 2018 report. Based on the investigation, Jim Yong Kim's staff and Kristalina Georgieva worked together to enhance China's ranking without negatively impacting other countries. Georgieva was directly involved in these efforts and reprimanded the bank's China director for mishandling the relationship with China. The IMF's executive board recently interviewed officials from WilmerHale, the law firm that conducted the investigation, as well as Georgieva, who defended her actions during the process. Georgieva stated to the board that the WilmerHale Report does not accurately represent her actions regarding Doing Business 2018, nor does it accurately reflect her character or professional conduct over her long career. She has a Ph.D. in economics from the University of National and World Economy in Sofia, Bulgaria, and has worked at the World Bank, eventually becoming its chief executive. Georgieva expressed gratitude for the IMF board's confidence in her leadership, stating that the allegations were unfounded after a thorough review of the facts. "Trust and honesty are the fundamental principles of the international companies where I have been dedicated for over forty years." © 2021 The New York Times Company.