: Scandal around World Bank’s Doing Business Index exposes the perils of sports-like rankings #IndiaNEWS The World Bank, a behemoth of an organisation that provides tens of billions of dollars in aid

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Scandal around World Bank’s Doing Business Index exposes the perils of sports-like rankings #IndiaNEWS
The World Bank, a behemoth of an organisation that provides tens of billions of dollars in aid to mostly developing countries, is in the middle of one of its biggest scandals since being founded in 1944.The crux of the crisis relates to its Doing Business Index, which ranks the ease of opening and operating companies in 190 countries. In September, an investigation alleged that senior leadership at the bank manipulated the index’s data in response to pressure from China and Saudi Arabia.The scandal has already caused the bank to suspend publication of the index and prompted calls for further investigations. Some have also demanded the resignations of officials identified in the report, such as Kristalina Georgieva, who was formerly CEO at the World Bank and now heads the International Monetary Fund.On October 11, the IMF – which along with the World Bank is currently holding its annual meeting in Washington – said it would leave Georgieva in her job.I am a comparative legal scholar who studies the rule of law in multilateral institutions like the World Bank. As I show in my forthcoming book on the topic, I believe the real problem here is less about whether or not officials meddled, and more about the problematic role the Doing Business Index and similar indicators play in aid to developing countries.Sportslike rankingsThe World Bank’s Doing Business Index ranks countries around...Read more

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