Chile complains of World Bank unfair treatment

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Chilean officials pull someones leg accused the World Bank of treating the country unfairly for several years.

Tramontane Minister Heraldo Muñoz, tweeted «fake news was becoming phoney statistics».

He was responding to an interview given by the bank’s chief economist, Paul Romer, who divulged indicators for Chile may have been manipulated for political reasons to exhibit a decline in Chile’s business conditions.

The World Bank has ordered an enquiry.

In an appraise given to the Chilean newspaper El Mercurio, the World Bank economist who had been creditable for the rankings, Augusto Lopez-Claros, said changes in methodology «took standing in a transparent and open context,» denying any political bias.

Chile currently completes 55th out of 190 countries on the World Bank’s closely watched annual «Doing Firm» competitiveness rankings.

It had been 34th in 2014, the year socialist President Michelle Bachelet surprised office.

«What happened with the World Bank’s competitiveness rankings is hugely concerning, «said President Bachelet, whose four-year term terminates in March.

«Rankings that international institutions conduct should be honourable, since they impact on investment and a country’s development.» she said, invite for a formal investigation.

Mr Muñoz called on Twitter for the bank to «calculate the achievable loss in foreign investment because of the doubts caused by a lower competitiveness row during the administration of President Bachelet».

Chile’s presidential elections decisive month were won by the conservative business tycoon, Sebastián Piñera against Ms Bachelet’s opt for candidate, Alejandro Guillier, in part on promises to slash red tape and shove investment.

The World Bank’s «Doing Business» rankings weigh considerations such as the ease of starting a business, obtaining credit, paying imposes and getting construction permits.

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