Africa World 

United Nations is ‘broke’, could run out of cash in a few weeks

The United Nations is reportedly without money to sustain its operations as it is currently running a deficit of $230 million.

In a letter from the Secretary General Antonio Guterres to the 37,000 employees at the UN secretariat, he said the global body may run out of money by the end of October.

CBS News reported about the said letter in which Guterres said unspecified “additional stop-gap measures” were needed to ensure salaries and entitlements are paid.

Guterres wrote that “Member States have paid only 70 percent of the total amount needed for our regular budget operations in 2019.

This translates into a cash shortage of $230 million at the end of September. We run the risk of depleting our backup liquidity reserves by the end of the month”.

The United Nations is now taking cost cutting measures with Guterres mentioning the need to postpone conferences and meetings and reduce services.

There is also the need to restrict official travel to only essential activities and taking measures to save energy.

Only 129 States out of 193 have paid their regular annual dues.

The UN’s operating budget for 2018-2019 excluding peacekeeping operations is close to $5.4 billion.

The United States contribute the largest share at 22 percent.

US President, Trump has been insisted on other member states also paying their share of the UN’s financial contribution.

UN Spokesperson Stéphane Dujarric told reporters in New York that other countries needed to pay “urgently and in full”.

The UN Secretary General also said recently that “The ultimate responsibility for our financial health lies with Member States.”

Source: Africafeeds.com

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