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

LCCI: Nigeria Must Adopt Reforms to Unlock Fintech Potential, Lead Digital Financial Hub in Africa

L-R: Prince Cookey, Publisher/Editor-in-Chief, Business Journal Media Group; Mr....

SEC DG: Capital Market Has Capacity to Fund Abuja Infrastructure Projects

Dr. Emomotimi Agama Director-General Securities and Exchange Commission (SEC) The Director-General of...

Mutual Benefits: Shareholders Back Strategic Growth Direction at 30th AGM

Historic 30th AGM: L-R: Managing Director/CEO, Mutual Benefits Life...

NGX, Brazilian Business Delegation Explore Areas of Collaboration, Partnership

WELCOME REMARKS BY ALHAJI (DR.) UMARU KWAIRANGA GROUP CHAIRMAN,...

Leadway’s Post-Recapitalisation Signals Era of Digital-First Insurance for Critical Sectors and Nigeria’s Next Generation

Leadway Assurance, Nigeria’s foremost insurance services provider and a...

Topics

Yahsat Targets West Africa Expansion for Growth

Yahsat, the UAE-based global satellite operator, will participate in...

Ardova Commends Stanbic IBTC’s Support for LPG Storage Project

AP LPG terminal, a fully owned subsidiary of Ardova...

African Developers Thrill at Facebook’s F8 Conference

Facebook announced at its annual F8 developer conference held...

NLNG Unveils Sophia Horsfall as New GM, External Relations & Sustainable Dev

L-R: Dr. Sophia Horsfall, Mr. Andy Odeh and Mrs....

Maida, Inuwa, Adeyanju, Alakija, Others Unveiled as Speakers for AfriTECH 4.0

The organisers of Africa Tech Alliance Forum have...

Interswitch Acquires Vanso to Boost Service Delivery

Interswitch Limited, Africa’s leading digital payments and commerce company has...

Samsung: Corporate Citizens Could Make Impact on Africa’s Sustainable Development Goals

Prepared to follow on from the Millennium Development Goals...

NIA Chiefs at 23rd Nigerian Economic Summit 2017

R-L: Mr. Eddy Efekoha, Chairman, Nigerian Insurers Association (NIA)...
spot_img

Related Articles

Popular Categories

spot_imgspot_img