WASHINGTON (AP) — An independent panel is recommending the World Bank scrap a contentious ranking of countries meant to evaluate the ease of doing business.
The annual "Doing Business" report, first published by the World Bank in 2003, ranks 185 countries by aggregating 10 indicators such as starting a business, getting construction permits, electricity and credit, registering property, protecting investors, paying taxes and enforcing contacts.
It has motivated reforms in some countries but has also come under attack by nations that did poorly in the rankings, notably China. The U.S., the Washington-based World Bank's largest shareholder, supports the ranking system.
The independent review, set up by the World Bank and published on Monday, concluded the index is open to misinterpretation and listed a host of problems including the relevance of information gathered.