World Bank Group to stop publishing ‘Doing Business’ report

The World Bank Group has decided to stop publishing its “Doing Business report on country investment climates” because of allegations of irregularities.

Highlights

• This decision was taken in the backdrop of probe of data irregularities allegedly because the pressure by top bank officials, for boosting China’s ranking in 2017, came to light.
• World bank also noted that, it will remain firmly committed towards advancing the role of private sector in development and providing support to governments in order to design the regulatory environment that supports this.
• World Bank will now be working on a new approach of assessing the business and investment climate.

Trust in research

According to World Bank, trust in the research is vital. World Bank Group research informs about the actions of policymakers and helps countries in making better-informed decisions. It also allows stakeholders in measuring economic and social improvements accurately. Research has also been a valuable tool for private sector, academia, civil society, journalists etc in broadening their understanding of global issues.

What is the issue?

Data irregularities were reported on Doing Business 2018 and 2020 internally in June 2020. Following this, World Bank management stopped the next edition of Doing Business report and initiated a series of reviews & audits of the report along with its methodology.

Doing Business 2020 report

According to Doing Business 2020 report, India had jumped 14 places in the ease of doing business ranking, to the 63rd position. It has improved the rank by 79 positions over five years that is, in between 2014 to 2019.

Month: Current Affairs - September, 2021