Just When You Thought You Couldn’t Get Anymore Pissed At The U.N.
U.N.’s World Food Program Cried Poverty While Sitting on Cash Stockpile of More Than $1.22 Billion
The two pictures below show a poor Haitian woman who bakes “dirt pies” … The Main ingredient?
Dirt.
And FNC reporter Steve Harrigan was gallant as he took one of the dirt pies from the woman and sampled it. He really won major points with me in his successfully holding back his displeasure and not only swallowing the bite but nodding to the woman that it was ‘very good’ … When I could tell he was just being kind and very humbled.
Just weeks before it announced the onset of a global food crisis and the urgent need for donors to provide at least $775 million in additional funding, the World Food Program was sitting on a cash and near-cash stockpile of more than $1.22 billion.
The startling figure is contained in the latest audited statements of the WFP, which were endorsed by the WFP’s executive director, Josette Sheeran, on March 31, just a month before Sheeran announced at an international aid conference on April 22 that a “silent tsunami” in rising food prices demanded the huge infusion of cash for the WFP’s latest budget.
In a May 1 International Herald Tribune op-ed, U.N. Secretary-General Ban Ki-moon further declared that the WFP had just “$18 million cash in hand” in the wake of its appeal for emergency funding.
The audited statements are due to be presented to the annual Rome meeting of the WFP’s supervisory executive board in June.
(U.N.’s audited financial statement)
The $1.22 billion figure, tallied as of Dec. 31, represents an increase of nearly $400 million over the WFP’s cash reserves a year earlier, as laid out in a report to the WFP’s governing executive board in June 2007.
(U.N.’s investment performance report)
The cash stockpile was in addition to pledges for an additional $1.33 billion, all of which left the organization with more than $2 billion in anticipated cash and reserves just before it made its most recent urgent appeal.
In all, the auditors declared, the WFP had added an additional $91 million in cash assets over the 12-month period, leaving the U.N.’s emergency food supplier with roughly the same reserve assets it held in 2005.
Ever since the WFP announced the looming crisis of food aid for the world’s poorest people — based largely on dramatic international hikes in food costs — the World Food Program and other U.N. spokesmen, including Ban, have been steadily ratcheting up the tab required to top off the WFP’s budget to meet 2008 needs.
Initially, Sheeran announced that some $500 million was needed, though she added that would not fully fund such things as school food programs for some 20 million hungry youngsters. By the time of the aid conference, attended largely by U.N. agencies and World Bank representatives, the needed funding had risen to $775 million.
By the time the conference ended, Ban had put the shortfall at roughly $1 billion.
Ban also announced that a U.N. task force dealing with the food crisis would need as much as $1.6 billion in additional funding for seed programs and other means of expanding the global food supply.
On Thursday, President George W. Bush called on Congress to add $770 million in new international food aid to some $350 million in new aid he disclosed after the WFP announced the “silent tsunami” crisis.
Update:
Hours after FOX News’ publication of this story, WFP acknowledged the $1.22 billion in cash reserves, which it said “represents between three and four months of WFP’s annual operating revenue.
“Of that $1.22 billion, more than 90 percent is either committed to ongoing food needs, or comprises mandatory reserve requirements necessary for prudent financial management of an organization of its size (i.e. unfunded liabilities for pensions),” Brenda Barton, WFP’s deputy director of communications and public policy strategy e-mailed FOX News.
“This system of cash management is akin to that of a family who has $2,000 in the bank, of which the majority is committed for mortgage, car payment and groceries,” she wrote.
Barton also declared that the $800 million figure cited by FOX News is incorrect. “At the end of 2006 the equivalent cash and short term investment fund was $1.12 billion.” The cash reserve currently stands at $1.115 billion, WFP said.
Interest on the reserves, Barton said, are “plowed back” into WFP projects. She emphasized that the reserves, “ which allow for cash flow in critical situations, have been approved by donor governments.”
(FOXNEWS)
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Is there any politician in America that has the guts to drive this issue to a vote and finally give the American public an opportunity to boot this gawd forsaken POS called the U.N. to Tehran where it belongs?
I simply do not understand why we continue to fund a large part of this whore. We’d do better to burn money on the whitehouse steps. At least that would generate some light.
May 2nd, 2008 at 4:16 pm
WTF is wrong with them?!?!?! How can they claim to not have food to feed people while sitting on 1.2 billion dollars? Are they genetic defectives?
May 2nd, 2008 at 4:28 pmThe World Food Program. Well how nice of that agency to, even be in existence.
May 2nd, 2008 at 4:45 pmA food crisis is on the way folks. Is Kofi Annun anywhere near the ledger books of this organization? Being a former U.N. Secretary General, I’m sure that he and his son can help clean up any World Food Program funds.
And the U.N. wants “emergency funding”. Better ask those Americans (who we hate) to fund the extra. Boy are they suckers!
If this was an organization that truly cared about people they would bought food for thee poor human beings until their money completely dried up. now thats humanity! what were they planning to do with this money? just sit on it, maybe let a few of the chosen pocket some? this really pisses me off, especially after the UN oil for food program corruption.
May 2nd, 2008 at 4:53 pmIf they had used that money to feed the poor then they would have nothing to do. I believe that the U.N supports many wars in the third world countries and keeps the poor hungry just to look as if they are doing their job and be praised for their work.
May 2nd, 2008 at 5:27 pmThis is a case in point that shows humanitarian work from the top down is ineffective. Efforts needs to be from the bottom up.
Part of the definition of Third World countries is a corrupt government (think: “can’t be trusted to do the right thing with large sums of money). Also I think we all agree “corruption” pretty well defines the U.N. So when we throw money at corrupt governments or the UN, the benefit to those in most need is often too little.
There’s no substitute for organizations that work directly with those in need. And so many American citizens are doing just that! God I am so proud of our country (here’s where I’d put an American flag icon if one were available!)
May 2nd, 2008 at 7:08 pmSpot on!
As to the Flag icon …
Took a long time to get the gun one … Flag would be nice too
May 2nd, 2008 at 8:15 pmTo the flag!
May 2nd, 2008 at 9:40 pmWe are kind of like the woman who picks the deadbeat guys for boyfriends. No matter how worthless the UN is, or how much it embarrasses us, we stick by it. I think it’s time for a little girl power for Lady Liberty.
On a more serious note, Whiskey Tango Foxtrot!?!? Has there ever been a more worthless body of people gathered in one place? I mean, one would think, with all those brains in one room, odds are somebody could have a good idea…but nooooo. It’s like regressive groupthink! Please make better use of that real estate in NYC! Like, I dunno…an ant farm? Maybe a flea circus…wait, it’s already a flea circus. How about a corn silo? Oh wait, there’s not enough corn left to store in silos!!!!!
May 2nd, 2008 at 10:04 pmUnited Nothing, that is
May 3rd, 2008 at 2:54 amTimmy McVeigh parked his truck in front of the wrong building—–damn
May 3rd, 2008 at 5:19 am