World Bank suspends Doing Business Report following irregularity issues
The World Bank Group has announced its decision to suspend the ‘Doing Business Report’ due to concerns around data irregularities in previous editions of the report.
This was announced in a statement released on Thursday where the bank affirmed that irregularities were reported regarding changes to the data in the Doing Business 2018 and Doing Business 2020 reports, published in October 2017 and 2019 respectively.
According to the bank, trust in its research is vital because its member nations make better-informed decisions and allows stakeholders to measure economic and social improvements more accurately.
Furthermore, it has also been a valuable tool for a broader understanding of global issues.
“After data irregularities on Doing Business 2018 and 2020 were reported internally in June 2020, World Bank Group management has taken the decision to discontinue the Doing Business report,” it read.
The global financier added that the report also raised concerns around ethical matters such as the conduct of former Board officials as well as current and/or former Bank staff, management to the Bank’s appropriate internal accountability mechanisms served as a contributory factor.
The corporation has however initiated a series of reviews and audits of the report and its methodology while reiterating its commitment to support the government and boosting the role of the private sector in the business environment and the economy.
“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,” it stated.
The ease of doing business report which has been published for the past 17 years has been a valuable tool for many countries to examine their business environment while providing recommendations through indicators and methodology to help countries improve their general business environment.