ToplineWorld Bank staff members were pressured into manipulating data for the bank’s annual ranking of business-friendly countries, an internal audit found Friday, resulting in higher rankings for China and Saudi Arabia. Photo by Samuel Corum/Getty ImagesKey FactsThe World Bank’s Doing Business report measures the overall business environment in countries around the world, and may be used to attract foreign investment. The World Bank said Saudi Arabia should not have been named a “top improving economy” in the 2020 report, with its ranking falling from 62 to 63, factoring in the correct data. The World Bank published a glowing press release in October 2019 praising Saudi Arabia for carrying out business reforms. The audit found that Azerbaijan’s ranking should have been 28 with the correct data instead of its original ranking of 34.

Source: Forbes December 18, 2020 19:12 UTC