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UN facing ‘worst cash crisis’ in nearly a decade, warns staff could go unpaid in November

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CNBC
October 9, 2019

The United Nations (UN) is facing its “worst cash crisis” in nearly a decade because almost one-third of its member states have not paid their annual dues, according to Secretary-General Antonio Guterres.

Speaking in front of the UN’s budget-setting Fifth Committee on Tuesday, Guterres said the situation was so desperate that last month’s General Assembly in New York was only possible because of emergency spending cuts made earlier in the year.

“The organization is facing a severe financial crisis,” Guterres said.

“To be more specific, a severe liquidity crisis. The equation is simple: without cash, the budget cannot be properly implemented.”

UN spokesperson Stephane Dujarric said in a statement published Tuesday that, by the end of September, member states had paid only 70% of the total assessment for the regular budget.

That compares with 78% at the same time of year in 2018.

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This article was posted: Wednesday, October 9, 2019 at 5:19 am





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