Clarksville Times

Lawmakers Patrick McHenry, French Hill, and Blaine Luetkemeyer have called on Treasury Secretary Janet Yellen to advocate for new leadership at the International Monetary Fund (IMF) as Managing Director Kristalina Georgieva's term comes to an end. The lawmakers highlighted ethical concerns, including data manipulation and inattention to allegations of sexual harassment, as reasons for their demand.

In a letter to Secretary Yellen, the lawmakers emphasized the importance of upholding ethical standards at the IMF, stating, "IMF member countries should expect the Fund’s management to serve as an honest broker, which requires an unquestioned commitment to the highest ethical standards." They urged Secretary Yellen to reject the status quo and identify a new managing director who can lead with integrity.

The letter outlined various ethical lapses during Georgieva's tenure, including involvement in a data rigging scandal at the World Bank and failure to address sexual harassment issues. The lawmakers expressed concerns about Georgieva's ability to effectively manage the IMF, particularly in holding China accountable for its lack of debt transparency.

The lawmakers pointed out, "It defies belief that the IMF’s member countries, and even just the subset of its European board members, are incapable of proposing a more qualified candidate. We trust you will find that maintaining the status quo at the Fund is equally unacceptable."

The call for new leadership at the IMF comes as a response to what the lawmakers perceive as a lack of integrity and effectiveness under Georgieva's leadership. They are urging Secretary Yellen to take action to ensure that the IMF can fulfill its mission with the confidence of Congress and the international community.

The full letter from McHenry, Hill, and Luetkemeyer to Secretary Yellen can be accessed for further details on the concerns raised regarding the management of the IMF.