WORLD BANK
Chile up in arms over fall in World Bank rankings
Santiago — Chilean officials on Saturday criticised the World Bank, saying it treated the South American country unfairly in its closely watched annual Doing Business competitiveness rankings. "What happened with the World Bank’s competitiveness rankings is very concerning," socialist President Michelle Bachelet, whose four-year term ends in March, wrote on Twitter after the World Bank’s chief economist apologised for Chile’s slippage in the rankings. "Rankings that international institutions conduct should be trustworthy, since they impact investment and countries’ development," Bachelet wrote, adding that the government would formally request a World Bank investigation. In an interview with The Wall Street Journal published on Friday, World Bank chief economist Paul Romer apologised to Chile for changes to the report’s methodology, which he said "conveyed the wrong impression" about the business environment under Bachelet. Chile ranks 55th out of 190 countries on the list in 2018,...
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