Home Politics UN sounds alarm on cash crisis, warns it may default on bills...

UN sounds alarm on cash crisis, warns it may default on bills by month’s end

The United Nations is dealing with its worst money disaster in practically a decade and is warning that it might be unable to pay its payments by the tip of the month, whereas urging member states to pay their contributions to the world physique instantly.

Secretary-Common Antonio Guterres wrote to member states this week, saying that as of the tip of September, they’ve solely paid 70 p.c of finances contributions, in contrast with 78 p.c right now final yr.

CHINESE INFLUENCE ON DISPLAY AT UN AS US DECRIES HUMAN RIGHTS ABUSES

“The Group runs the chance of depleting its liquidity reserves by the tip of the month and defaulting on funds to workers and distributors,” a press release by Guterres spokesman Stephane Dujarric stated.

“Stressing the Constitution obligation of Member States, the Secretary-Common thanked the Member States who’ve paid their common finances assessments, which is now 129, and urged those that haven’t paid to take action urgently and in full,” the assertion stated. “That is the one strategy to keep away from a default that might threat disrupting operations globally. The Secretary-Common additional requested governments to handle the underlying causes for the disaster and agree on measures to place the United Nations on a sound monetary footing.”

Whereas the U.S. is likely one of the international locations that haven’t paid its contribution in full, an official from the U.S. Mission to the U.N. informed Fox Information that’s partially due to variations in U.S. and U.N. fiscal years.

“So far this yr, we now have contributed over $600 million to UN peacekeeping operations, and shall be offering the overwhelming majority of the $674 million we owe to the 2019 common finances this fall, as we now have in previous years,” the official stated. “General the USA, as the biggest contributor to the UN, contributes roughly $10 billion yearly in assessed and voluntary contributions throughout the United Nations system.”

GENERAL ASSEMBLY BREAKING WITH US ON MOST VOTES, REPORT FINDS

The official additionally stated the U.S. has been clear that no single member ought to pay for greater than 1 / 4 of the U.N. finances. (The U.S. at present pays roughly 22 p.c of the U.N.’s working finances.)

President Trump echoed this sentiment on Wednesday morning, tweeting in reference to reviews in regards to the U.N. finances woes: “So make all Member Nations pay, not simply the USA!”

Guterres, in the meantime, says he has requested different measures, together with reductions in journey, postponement of spending, and suspending conferences and different conferences.

CLICK HERE FOR  THE ALL-NEW FOXBUSINESS.COM 

The U.S. is unlikely to step in to assist clear up the issue anytime quickly. The Trump administration has pushed for a re-evaluation of the U.N. finances and has been skeptical of the U.N.’s alignment with U.S. pursuits.

A latest State Division report discovered that the U.N. Common Meeting is out of sync with U.S. pursuits in additional than two-thirds of votes taken in 2018.

Avatar
Barry Allen
Barry Allen is a Politics expert and a social worker, And has been working in the politics world. He currently contributes for Trevino by covering all the politics event around the US.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

‘SNL’: Matthew Broderick Plays Mike Pompeo in Impeachment Opener (Watch)

‘SNL’: Matthew Broderick Plays Mike Pompeo in Impeachment Opener (Watch)

The second episode of “Saturday Night time Stay” opened with one other impeachment associated sketch, this time going down within the workplace of...
What

Knights of the Zodiac: Saint Seiya Season 2: Netflix Renewal Status and Release Date

Knights of the Zodiac: Saint Seiya – Copyright. Toei Animation2019 has been a really busy yr for anime on Netflix. One among Netflix’s...
What

Vagabond Season 1: Plot, Cast, Trailer, Netflix Release Schedule & Release Date

Copyright. Sony Footage Tv and Celltrion LeisureWith out contest, Netflix is undoubtedly the house of among the finest Okay-Dramas out there to stream....
Roon Labs' Nucleus music server review: Exquisite hardware for exceptional software

Roon Labs’ Nucleus music server review: Exquisite hardware for exceptional software

Roon Labs’ Roon music server software program is is unparalleled by way of its efficiency, its sturdy metadata help, and its flexibility. You'll...
What

‘In the Shadow of the Moon’ Netflix Soundtrack & Song Listing

Within the Shadow of the Moon – Image: NetflixNetflix’s newest thriller Within the Shadow of the Moon is now streaming on Netflix and...