The World Bank Group announced it has decided to discontinue the publication of its doing business rankings of countries after a review of data irregularities in the 2018 and 2020 reports.
The bank disclosed in a statement on Thursday that the internal reports raised “ethical matters” regarding the two reports.
“Trust in the research of the World Bank Group is vital. World Bank Group research informs the actions of policymakers, helps countries make better-informed decisions, and allows stakeholders to measure economic and social improvements more accurately,” the statement said.
It said such research has also been a valuable tool for the private sector, civil society, academia, journalists, and others, broadening understanding of global issues.
“After data irregularities on Doing Business 2018 and 2020 were reported internally in June 2020, World Bank management paused the next Doing Business report and initiated a series of reviews and audits of 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,” the statement read.
The statement noted that 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.