United Nations facing worst financial crisis in 10 years ― Guterres

United Nations-Secretary-General-Protests

The UN is facing a "severe liquidity crisis", reaching its deepest deficit of the decade, UN Secretary General Antonio Guterres has said, warning that the world organisation will not have enough cash by next month to cover payrolls. As in, it might run out of it by Halloween.

"The Organization runs the risk of depleting its liquidity reserves by the end of the month and defaulting on payments to staff and vendors".

One of the reasons for the shortfall is the U.S., which funds 22 per cent of the UN's regular budget amounting $674 million, not having paid up in full so far.

There are 193 member states in the UN.

"This is the only way to avoid a default that could risk disrupting operations globally", read the statement.

United Nations Secretary General Antonio Guterres has warned that the global body is in dire financial straits.

An official from the USA mission said the United States "will be providing the vast majority of what we owe to the regular budget this fall, as we have in past years".

More news: NRL grand final television ratings lowest in 16 years

He said the cost-saving measures enabled the United Nations to fund the General Assembly debate and the high-level meetings in September.

Not including what it pays for peacekeeping operations, the UN's operating budget for 2018-2019 is close to €5 billion, with the United States contributing 22%.

India is among a handful of only 34 United Nations member states which paid their regular budget dues in full and on time to the world organisation.

"The Secretary-General noted that this is a recurrent problem that severely hampers the Secretariat's ability to fulfill its obligations to the people we serve".

"The secretary-general therefore looks to member states to resolve the structural issues that underlie this annual crisis without further delay", Dujarric said.

If the funds don't flow in this month from more of the nations in arrears, the UN will likely continue its operations by dipping into its working capital fund temporarily. The U.S. owes around $2.4 million for those missions; though the U.S.is responsible for 28 percent of that budget, the country has promised to pay 25 percent, the minimum amount required by law.

The UN chief said budget implementation was no longer being driven by planning, but according to "the availability of cash at hand".

Related News:

  • Essential reveals insane  new Project GEM smartphone

    Essential reveals insane new Project GEM smartphone

    Additionally, the phone is rumored to be controlled mainly through voice commands, with an AI assistant performing numerous tasks. Essential Products CEO Andy Rubin gave us a peek Tuesday at the next handset from his phone maker, and it's a bit provocative.
    Newlywed bride, siblings drown trying to take selfie

    Newlywed bride, siblings drown trying to take selfie

    India has the highest number of recorded selfie deaths in the world. "About three-fourth of selfie deaths occurred in males". Researchers warned that the 259 deaths revealed by the study's limited methods are likely to be only the tip of the iceberg.
    Hearthstone gamer banned for Hong Kong protest

    Hearthstone gamer banned for Hong Kong protest

    The broadcast has since been deleted, but Inven Global has a mirror on Twitter , which you can watch below. It was then that the fallout from Blizzard over the Hearthstone Hong Kong controversy began.
  • Doom Eternal delayed to March next year

    Doom Eternal delayed to March next year

    With this delay, the game has been pushed into the new year, as now it won't be launching until March 20th, 2020. Given that success, it was no surprise to see Bethesda announce a sequel called DOOM Eternal at E3 2018.
    Gold Prices Slipped Ahead of Dispute Talks

    Gold Prices Slipped Ahead of Dispute Talks

    The previous high dated back to late 2012, at which time the gold price was near$1,700 per ounce, 18% higher than now . Despite the bearish correction of gold prices, there are still factors supporting the return of gains at any time .
    Top al-Qaeda Commander Asim Omar Killed in US-Afghan Raid

    Top al-Qaeda Commander Asim Omar Killed in US-Afghan Raid

    Omar was the head of operations in South Asia and died alongside his courier to Al-Qaeda leader, Ayman Al-Zawahiri. A Pakistani intelligence official said Umar had travelled to Syria, though it was not possible to confirm this.
  • Two people killed in shooting in German city of Halle

    Two people killed in shooting in German city of Halle

    According to Guardian, the central train station has been closed and the area has been placed under lockdown. Witnesses claim that the shooter first opened fire using an assault rifle on a nearby Doner kebab shop.
    Apple plans to bundle Music and TV+

    Apple plans to bundle Music and TV+

    If users decide to subscribe to Apple Music, they can also choose to hide the iTunes Store 'to simplify the experience further'. Now, Apple isn't required to pressure these record labels to lower the price of each song for the rumored super bundle.
    PG&E plans to turn off power to 600000 addresses to prevent wildfires

    PG&E plans to turn off power to 600000 addresses to prevent wildfires

    The city's Tuesday email also cautioned that during the outage, traffic signals in the affected area may not be functioning. It's the latest testament to how climate change-driven extreme weather is forcing people and businesses alike to adapt.
  • A lady assassin will lead the next 'John Wick' movie

    A lady assassin will lead the next 'John Wick' movie

    This means that the titular ballerina is likely to be almost as deadly as Wick himself, having undergone the same training. Interestingly, they're not using Halle Berry and her character from John Wick 3. but a new young female assassin instead.
    Google Pixel 4 Series Pricing Tipped Online Ahead Of October 15 Launch

    Google Pixel 4 Series Pricing Tipped Online Ahead Of October 15 Launch

    Google, on the other hand, promised to introduce some significant power optimizations that will make those features negligible. The Pixel 4 launches next week, and the new Google phone should be available for preorder soon after the press conference.
    Trump campaign: We won fight over Minneapolis rally

    Trump campaign: We won fight over Minneapolis rally

    Trump campaign manager Brad Parscale called Mayor Frey a "radical left-wing nutjob that is limiting free speech", over the matter. Ilhan) Omar! The campaign said they will take legal action if AEG does not honor their contract by late Tuesday morning.


Most liked

Democratic congressman: Administration officials who ignore subpoenas do so 'at their peril'
Cipollone says the probe is invalid because the House has not voted to authorize the launch of an impeachment inquiry. Three House committees are demanding that Sondland appear at a deposition October 16.

UK Sees Brexit Deal as Almost Impossible as EU Lashes Out
European Council President Donald Tusk expressed this assumption in a Twitter rant aimed directly at Boris Johnson . A No 10 source has said a Brexit deal is "essentially impossible" after a call between the PM and Angela Merkel .

Ceballos: I was right to swap Madrid for Arsenal
We are working on his transfer to a new team". 'We work side by side to show the level we want in the European Championship'. Moreno has selected the midfielder in the squad to face Norway and Sweden in Euro 2020 qualifying fixtures on Sep.

Lavrov: US Syria Policies Full of Contradictions, Could 'Ignite' Whole Region
Turkey has been poised to advance into northeast Syria since U.S. troops began vacating the area in an abrupt policy shift by U.S. President Donald Trump widely criticised in Washington as a betrayal of America's Kurdish militia allies.

Titans release kicker Cairo Santos, OL David Quessenberry
Williams spent the past two seasons with the Edmonton Eskimos and led the CFL with 1,579 yards receiving a year ago . However, on Sunday, Santos missed all four of his field-goal tries as the team fell to the Buffalo Bills 14-7.

Bowling Coach Bharat Arun Confident Indian Pacers Can Deliver on Any Track
Arun heaped praise on his bowlers and domestic cricket for allowing them to learn the art to take wickets even on turning wickets. India bundled out the guests for 191 runs to lengthen their lead on the tip in World Check Championship.

'Synchronised slowdown': New IMF chief sees global growth threats
Federal Reserve in raising interest rates too high last year and being too slow to cut rates this year. He has blamed any U.S. slowdown on mistakes made by the U.S.

Twitter admits it provided security phone numbers and emails for advertising
We're very sorry this happened and are taking steps to make sure we don't make a mistake like this again. The issue was fixed in mid-September, Twitter said. "This was an error", Twitter said.

US F-16 Warplane Crashes Over Western Germany, No Injuries
Spangdahlem is home to the 52d USAF Fighter Wing which maintains, deploys and employs 24 Lockheed Martin Block 50 F-16CM/DMs. The news comes just a week after two United States airmen were killed at the Spangdahlem base in a fiery vehicle crash.

Wenger fires Arsenal warning at Pepe
He however recently shown interests in taking over at Manchester United should Ole Gunnar Solskjaer be sacked anytime soon. The German has struggled to win over a Spanish coach since a change in the dugout was made back in 2018.

Adam Levine Opens Up About Leaving 'The Voice'
"While I'm excited to work with you guys, I'm coming for you", Jonas, 27 , said on Instagram Monday. "I just stay at home and do very little", he said.

Joshua Brown killed in drug deal, 1 suspect arrested, police say
The conventional line of thinking likely was that if Jean looks bad, perhaps Guyger will look more sympathetic in front of a jury. The wounded Mitchell told police that he then heard Green popping off two rounds at Brown, according to Moore.

3 win Nobel Prize in Physics for work to understand cosmos
Today's Nobel Prize in physics was evenly split between two discoveries and, thus, unevenly split among the three honored. The Royal Swedish Academy of Sciences said the scientists' research had "transformed our ideas about the cosmos ".

Na fires 61 to take 2-shot PGA lead in Las Vegas
While he offset a bogey on No. 8 with a birdie on No. 9 to close out his front nine, Na fell apart on the par-4 10th. Leading by three shots going to the back nine, he made triple bogey on the 10th hole without finding a hazard.

Hong Kong `won`t rule out` Chinese help over protests: Leader Carrie Lam
US President Donald Trump said on Monday that if anything bad happened in Hong Kong it would be bad for the US-China trade talks. China dismisses such accusations, saying foreign governments, including Britain and the U.S. , have fanned anti-China sentiment.