UN May Soon Run Out Of Cash

July 27, 2018 11:12 pm0 commentsViews: 49

United Nations may run out of cash soon and the member states have been advised to pay their mandatory contributions on time as well as in full to ensure proper and prompt functioning of the world body on its key mandates.

Warning over the situation the UN staff, Secretary-General Antonio Guterres said all the member states have been intimated in written about the financial trouble.

He wrote, “Caused primarily by the delayed contributions of member states to the regular budget, this new cash shortfall is unlike those we have experienced previously.”

He added in his letter to the member states that the cash flow of UN has never been to such a low level so early in the calendar year.

Currently there are 112 defaulter members states in the world body and this has resulted with the financial trouble.

UN statement reveals 81 member states have not paid their regular budget dues and the countries include Afghanistan, Bangladesh, Brazil, Egypt, Israel, Maldives, Pakistan, Saudi Arabia, Seychelles, Sudan, Syria, the United States and Zimbabwe.

The biggest contributor is United States and pays 22 percent of the USD 5.4 billion core budget as well as 28.5 percent of the USD 7.9 billion peacekeeping budget.

The budget for 2018-2019 fiscal year is USD 5.4 billion.

Earlier, citing inefficiency and overspending, US negotiated reduction of USD 285 million from the budget.

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