Sunday, April 22, 2012

IMF appears to disassociate itself from its MD Christine Lagarde!

The statement detailing the pledges of extra support the IMF is claiming to have received appears only under the name of Madame Christine Lagarde, the IMF's competence challenged Managing Director, the dangers of whom to the world economy, this blog has long warned.

The version of Mme Lagarde's statement available from the IMF website, linked here, has at least been edited since it first appeared, so that the figures are finally properly aligned, but the dreadful arithmetical errors that would shame many eleven year olds still exist. The total of the numbers provided remain woefully far short of the Grand Lump Sum offered at the end, with a mere footnote number 3:
 "3 Including China, Russia, Brazil, India, and other countries"

being supposedly offered up as justification for this cheapest of low conjuring tricks.

Readers may search in vain for numbers that add up all across the IMF site but none others appear. Thus the organisation appears to have disassociated itself from the entire exercise, particularly as the IMF seems also silent under what provisions these sums have been pledged and with which particular procedures, of the many available to the IMF, they will be disbursed!

All this should be sufficient to consign UK Chancellor of the Exchequer, George Osborne, back to the political playpen, from which he should never have been allowed to set forth.

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