The World Bank Group has decided to discontinue publication of its Doing Business report, following allegations of irregularities.
The decision was taken after it came to light that there were allege irregularities due to pressure by some top bank officials to boost ranking of a country in 2017 came to light.
“After data irregularities on Doing Business 2018 and 2020 were reported internally in June 2020, World Bank management paused the next Doing Business report and initiated a series of reviews and audits of the report and its methodology. In addition, because the internal reports raised ethical matters, including the conduct of former Board officials as well as current and/or former Bank staff, management reported the allegations to the Bank’s appropriate internal accountability mechanisms.”, it said in a statement.
“Trust in the research of the World Bank Group is vital. World Bank Group research informs the actions of policymakers, helps countries make better-informed decisions, and allows stakeholders to measure economic and social improvements more accurately. Such research has also been a valuable tool for the private sector, civil society, academia, journalists, and others, broadening understanding of global issues”, it explained further.
Continuing, the Bretton Wood institution said “after reviewing all the information available to date on Doing Business, including the findings of past reviews, audits, and the report the Bank released today on behalf of the Board of Executive Directors, World Bank Group management has taken the decision to discontinue the Doing Business report”.
It added that the World Bank Group has remained firmly committed to advancing the role of the private sector in development and providing support to governments to design the regulatory environment that supports this.
“Going forward, we will be working on a new approach to assessing the business and investment climate. We are deeply grateful to the efforts of the many staff members who have worked diligently to advance the business climate agenda, and we look forward to harnessing their energies and abilities in new ways”, it pointed out.
Latest Stories
-
Today’s front pages: Friday, May 3, 2024
35 mins -
CAFCC: USM Alger file appeal at CAS to contest CAF’s decisions on RS Berkane jersey
1 hour -
Africa’s Outstanding Professional, Engr. Ebenezer Kwadjo Dankyi
2 hours -
Edudzi Tameklo insists Cecilia Dapaah’s case requires FBI’s findings for completeness
3 hours -
Deloitte Ghana wins Africa ESG Company of the Year 2024
3 hours -
Medical Laboratory Professionals threaten to strike over conditions of service
5 hours -
Residents of Anloga, Keta express frustration over ECG billing
5 hours -
I don’t believe in praying in tongues – Strongman
5 hours -
‘After The floods’: VRA and GMet clash over cause of Akosombo Dam spillage disaster
6 hours -
‘After The Floods’: Victims suffer harsh conditions 6 months after Akosombo dam disaster
6 hours -
Akufo-Addo to unveil Otumfuo commemorative stamp
6 hours -
EduSpots distributes over 100 tablets and laptops to 30 community-led education spaces
7 hours -
Taxation is driving away investors – FABAG General Secretary
7 hours -
Effutu MP commissions office for Hepatitis B; absorbs cost of testing, vaccination and management
7 hours -
Bawumia pushes for land digitisation to tackle land guard menace
7 hours