China economic update: World Bank calls report ‘an error’

BEIJING: World Bank President Jim Yong Kim has denied that his organisation had been pressured by China to remove criticism of the country’s financial system from a report. Early this month, the Washington-based institution released its China Economic Update report in Beijing, urging the country to accelerate reform of its state-dominated financial sector. Two days later, it was removed, with the bank saying on its website that it had not undergone proper vetting before publication. Kim called the release ‘simply an error’ at a press conference. Despite dramatic volatility on China’s stock markets, Kim said its “economy is strong and its fundamentals sound”.

Published in The Express Tribune, July 18^th,  2015.

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