The head of the International Monetary Fund (IMF) told poor countries to stop using global consultancy firms to write development strategies.
The fund’s managing director Christine Lagarde singled out inefficient spending on consultants for criticism at an event about funding the sustainable development goals at the World Economic Forum (WEF) in Davos, Switzerland.
She even ordered any representatives of “the McKinseys and Boston Consulting Groups” or any other consultancy firms in the room to listen to her as she delivered an uncomfortable message about their work.
“I see many, many low-income countries and emerging-market economies spend millions of dollars commissioning consultants to build their strategy plan. I would recommend some saving be made… The local private sector has a key role to play”
