Russia discusses issue of Doing Business rating at IMF, WB session, says Deputy PM

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This rating had been released for almost 20 years, and the bank decided to stop the release of this rating not long ago, Alexei Overchuk noted

WASHINGTON, October 16. /TASS/. The Russian delegation discussed the issue of the World Bank’s Doing Business rating within the framework of its participation in the autumn session of governing bodies of the International Monetary Fund (IMF) and the World Bank (WB), Russian Deputy Prime Minister Alexei Overchuk told reporters following his visit to Washington, adding that Moscow considers it necessary to have such a mechanism.

Overchuk arrived in Washington on Wednesday to head the Russian delegation at the IMF and World Bank session. “Of course, the participation in annual World Bank’s events was the main goal of the visit. Today the development committee took place,” he said, adding that the issues of tackling the pandemic and coping with poverty in particular were discussed at the meeting of the committee.

“Moreover, we focused on the Doing Business issue. As you know this rating had been released for almost 20 years, and the bank decided to stop the release of this rating not long ago. Of course, we note the general positive role of this rating, its positive influence on improvement of business climate in the world and in our country in particular,” Overchuk said. He stressed that “Russia came a long way in this rating in past years, reaching the 28th spot.”

“We shared views on the necessity to have a certain instrument, of course, that would enable countries to be guided in the processes aimed at improving business environment. And, of course, we believe the World Bank could play a better role particularly from the viewpoint of participating in the transfer of best practices on various areas, important for improving business climate. In this regard we had a very interesting discussion with President [of the World Bank David] Malpass on that matter,” Russian Deputy PM added.

The World Bank reported in September it had decided to discontinue its annual Doing Business reports following data irregularities revealed in several recent publications.

Russia climbed three notches in that rating to the 28th spot in 2019. Meanwhile, Executive Director at the Board of the World Bank Group representing the Russian Federation Roman Marshavin told TASS in October 2019 that Moscow’s ranking in the Doing Business rating was potentially higher than 28th, since the bank failed to consider all the reforms being carried out in the country. Russia suggested improving the method of calculation and the bank weighed those proposals.

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