World Bank Dumps Doing Business Report over Data Irregularities

The World Bank Group issued the following statement on the Doing Business report:

“Trust in the research of the World Bank Group is vital. World Bank Groupresearch informs the actions of policymakers,helps countriesmake better-informed decisions,andallows stakeholders to measure economic and socialimprovements more accurately.Suchresearch has also been avaluable toolforthe private sector,civil society, academia,journalists, and others, broadening understanding of global issues.

Afterdata irregularities on Doing Business 2018 and 2020 were reportedinternally in June 2020, World Bank managementpausedthe next Doing Business report andinitiateda series ofreviewsandauditsof 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.

After reviewing all the information available to date on Doing Business, including the findings ofpast reviews, audits, and the report the Bank released today on behalf of the Board of Executive Directors, World Bank Groupmanagementhas taken the decision todiscontinue theDoing Business report. The World Bank Group remains 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.”

spot_img
spot_img
spot_img
spot_img
spot_img

Hot this week

DataPro: Beyond the Balance Sheet: A Thorough Approach to Ratings

“In today’s complex financial world, your creditworthiness is your...

NAICOM Pledges Support for Lagos State Building Insurance Scheme

Keynote Address by Mr. Olusegun Ayo Omosehin, Commissioner for...

Nigeria’s $2bn Renewable Energy Investment Yields Only 76,000 Jobs, REA Flags Local Capacity Gap

Dr. Abba Aliyu, Managing Director of the Rural Electrification...

Ecobank Nigeria Launches Scaling Up Podcast to Champion African Entrepreneurship, Business Growth

Ecobank Nigeria has launched Scaling Up!!!, its flagship business...

DataPro Unveils Date, Registration for 6th International Rating Webinar

The anticipation is already building for the 6th Edition of the...

Topics

West African Stakeholders Embrace Universality of Internet

Mr. Tony Ojobo President African ICT Foundation Stakeholders of the ICT sector...

Tony Epelle, CEO of Samuelson Partners is Guest Speaker at Rivers State Economic & Investment Summit 2024

Mr. Tony Epelle, the Managing Consultant/CEO of Samuelson Advisory...

CBN Hosts FICAN Bi-Monthly Forum on e-Payment

The Central Bank of Nigeria (CBN) will be hosting...

NGX Group Chair: AI Will Enhance Efficiency in the Nigerian Economy

L-R:  Thaibat Adeniran, former Managing Director, Hilal Takaful Insurance...

NSE, DMO Hold Workshop on Fixed Income

In line with its commitment to improve the capacity...

Stanbic IBTC Bank to Boost Entrepreneurship with 2024 Edition of SME Training

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings,...

Tech, Media Leaders to Assess Investment/Growth Strategies

Leading strategy and investment heads from technology and telecom...
spot_img

Related Articles

Popular Categories

spot_imgspot_img