Why the head of the IMF should resign

IN 2003 THE WORLD BANK launched a league table that assessed the ease of doing business in different countries around the world. By 2017 Li Keqiang, China’s prime minister, grumbled that his country was lagging behind its peers. At his urging, officials began freeing entrepreneurs from red tape—and crimson ink. They cut fees, streamlined approvals, and began to use electronic seals instead of the traditional ink stamp on many documents.

China’s progress illustrates the power of the bank’s Doing Business rankings. Leaders have used them to motivate and monitor regulatory reforms, and like to boast about their country’s progress. The IMF cited the rankings last year in arguing for lending to Jordan. The data help guide investors. And they have informed 676 of the World Bank’s own projects (worth $15.5bn) in the past decade, according to an as-yet-unpublished internal evaluation.