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They also said the World Bank's subsequent discontinuation of the "Doing Business" series of annual reports could make it harder for investors to assess where to put their money. An investigation ...
The World Bank is taking steps to rebuild the credibility of its research after a data-rigging scandal forced it to cancel its flagship "Doing Business" report on country business climates, bank ...
Bid rigging is a fraudulent scheme in a procurement action which enables companies to submit non-competitive bids. It can be performed by corrupt officials, by firms in an orchestrated act of collusion , or by officials and firms acting together.
The World Bank-China ranking controversy refers to the alleged manipulation of China’s ranking in the World Bank’s annual Doing Business report by World Bank officials while they were negotiating a multibillion-dollar capital increase from China.
The Economist magazine on Thursday called for International Monetary Fund Managing Director Kristalina Georgieva to resign over her role in a China-related data-rigging scandal while at the World ...
The World Bank was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American. [12] The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
The U.S. Department of Justice slapped U.K. banking giant Barclays with a $160 million penalty last week, declaring that "Barclays Bank's illegal activity involved manipulating its submissions for ...