An investigation into the manipulation of an annual World Bank report has found that Kristalina Georgieva, the bank’s former chief executive, who now leads the International Monetary Fund, directed staff to alter data to placate China.

The bank said on Thursday that it is discontinuing its annual Doing Business survey.

The findings of the investigation, which was conducted by the law firm WilmerHale at the request of the bank’s ethics committee, raised questions about the judgement of Georgieva during her time at the World Bank and underscored the pressure that the bank has been under to accommodate China, its third-largest shareholder after the United States and Japan.

The investigation focused on accusations that top bank officials pressured the team that conducts the Doing Business survey to inflate China’s standing in its 2018 report.

There also were accusations that the 2020 report was manipulated to artificially bolster Saudi Arabia’s ranking.

The Doing Business report assesses the business climate in countries around the world. Developing countries in particular care deeply about their rankings, which they use to lure foreign investment.

In a statement, Georgieva denied accusations that she had acted inappropriately.

“I disagree fundamentally with the findings and interpretations,” Georgieva said.

“I have already had an initial briefing with the IMF’s executive board on this matter.”

A World Bank spokesman said the report spoke for itself.

At the time of the reported manipulation, World Bank officials were concerned about negotiations with members over a capital increase and were under pressure not to anger China, which was ranked 78th on the list of countries in 2017 and was set to decline in the 2018 report.

Country ranking

According to the World Bank Doing Business Report 2020, released in October 2019, India had recorded a jump of 14 positions on the ease of doing business and was ranked 63rd among 190 countries assessed by the World Bank.

The country had improved its rank by 79 positions between 2014 and 2019.

The doing business assessment provides objective measures of business regulations and their enforcement on parameters affecting a business through its life cycle.

In 2018, India had gained 23 positions to rank 77 among 190 countries. India was ranked 100 in 2017.

With inputs from Calcutta bureau