World Bank China rigging scandal rattles investors

(Adds comment from Ashmore Group, Russia)

By Tom Arnold and Marc Jones

LONDON, Sept 17 (Reuters) – Some investors and campaigners expressed dismay on Friday at revelations that World Bank leaders pressured staff to boost China’s score in an influential report that ranks countries on how easy it is to do business there.

They also said the World Bank’s subsequent discontinuation of the “Doing Business” series of annual reports could make it harder for investors to assess where to put their money.

“The more I think about this, the worse it looks,” said Tim Ash at BlueBay Asset Management, adding that the reports published since 2003 had become important for banks and businesses around the world.

“Any quantitative model of country risk has built this into ratings. Money and investments are allocated on the back of this series.”

An investigation by law firm WilmerHale https://www.reuters.com/business/sustainable-business/world-bank-kills-business-climate-report-after-ethics-probe-cites-undue-pressure-2021-09-16, at the request of the

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