TakingStock - IMF banking on prudence.
While the Bush administration in the White House was focusing on its pilots forced to land in China, a stones throw away, British mid-tier firm accountancy firm Chantrey Vellacott was involved in conflict with the IMF and the World Bank.
The ordeal came after the firm was commissioned to form a ‘case for serious consideration’ blueprint into how the organisations could eradicate third world debt.
Chantrey partner and master of diplomacy Maurice Fitzpatrick flew to Washington last week to unveil the firm’s findings in front of members of the organisations and officials including state ambassadors and Oxfam representatives.
The firm stated with Gordon Brownesque precision that the organisations could wipe out the debt within 25 years with a little ‘prudence.’ The firm added the prudence would not interfere with their ability to operate or affect their credit ratings.
The organisations were said to have poured cold water over its suggestions and were less than impressed with the idea. The firm is sticking to its guns saying organisations have not explained why its plans wouldn’t work.
Could be a long cold war coming on.