The World Bank Group today (Sep 16) announced that it will be discontinuing 'Ease of Doing Business' reports.
The bank also released the findings of its probe into data irregularities discovered in 2018 and 2020 reports.
"After reviewing all the information available to date on Doing Business, including the findings of past reviews, audits, and the report the Bank released today on behalf of the Board of Executive Directors, World Bank Group management has taken the decision to discontinue the Doing Business report." an official statement read.
The investigative report on data Irregularities in Doing Business 2018 and Doing Business 2020 cited the role of International Monetary Fund Managing Director Kristalina Georgieva
“The changes to China’s data in Doing Business 2018 appear to be the product of two distinct types of pressure applied by bank leadership on the Doing Business team,” the World Bank report said
The bank cited “pressure applied by CEO Georgieva and her advisor, Mr. Djankov, to make specific changes to China’s data points in an effort to increase its ranking at precisely the same time the country was expected to play a key role in the bank’s capital increase campaign.”
The investigation also established that changes to Saudi Arabia’s and UAE’s data in Doing Business 2020 was likely the result of efforts by a senior Bank staff member to "achieve a desired outcome and reward Saudi Arabia for the important role it played in the Bank community, including its significant and ongoing RAS projects."
The World Bank said that after the irregularities raised ethical matters involving former bank staff and board officials, the development lender will work on a new approach to assessing countries' business and investment climates.