Economist Kaushik Basu dubbed reports of manipulation of the planet Bank’s Doing Business ranking as “shocking”.
Basu was Chief Economist of the planet Bank from October 2012 to October 2016.
He said that when the Doing Business report was under his charge, the organisation never gave in to pressure from governments.
He also clarified that the planet Bank never faced pressure from the present or previous Indian government, led by Narendra Modi and Manmohan Singh respectively.
“The news of manipulation of World Bank’s Doing Business Ranking is shocking. DB was under my charge from 2012 to 2016. There was pressure from govts. We NEVER gave in. Sad that this changed. I may add, to India’s credit, I never had pressure from India’s govt—current or previous,” Basu tweeted.
The World Bank Group on September 16 said it ended publication of its Doing Business report, after an investigation cited “undue pressure” by top bank officials, including then-Chief Executive Kristalina Georgieva, to spice up China’s ranking in 2017.
The report ranks country supported investment climate.
An internal report had raised “ethical matters, including the conduct of former Board officials also as current and/or former Bank staff”.
A board investigation conducted by the firm WilmerHale cited “direct and indirect pressure” from senior staff within the office of then-World Bank President Jim Yong Kim to vary the report’s methodology to spice up China’s score, and said it likely occurred at his direction.
