Beware the international bureaucrats

They might not be playing with an entirely full deck.

The International Monetary Fund has corrected an embarrassing error that led to the publication of exaggerated estimates of the external debt levels of crisis-hit eastern European states.

….

The ratio for the Czech Republic was cut from 236 per cent to 89 per cent and Estonia’s was reduced to 132 per cent from 210 per cent. It is understood the figure for Ukraine is also being cut to 116 per cent from 208 per cent, that Lithuania’s ratio of 425 per cent may also be recalculated and that others may follow.

If those highly paid international technocrats are capable of making such appalling mistakes then how can we trust what those highly paid international technocrats tell us about other things?

Which rather obviates the point of having highly paid international technocrats running our affairs for us, doesn’t it?