International

UN may run out of money by end of the month: Guterres

UN may run out of money by end of the month: Guterres
Antonio Guterres (File)
United Nations, Oct 8 (Agencies) | Publish Date: 10/8/2019 11:58:20 AM IST

The United Nations (UN) may run out of money for operations by the end of October said Secretary-General of the global body Antonio Guterres.

According to India Today, as of now, the UN is struggling with a deficit of $230 million, reported news agency AFP. In a letter addressed to 37,000 employees at the UN Secretariat, Guterres said unspecified “additional stop-gap measures” would be needed to pay salaries and entitlements to employees. The UN Secretary-General Guterres said member states of the international body have only paid 70 per cent of the total amount needed for regular budget operations in 2019.

“Member States have paid only 70 per cent of the total amount needed for our regular budget operations in 2019. This translates into a cash shortage of USD 230 million at the end of September. We run the risk of depleting our backup liquidity reserves by the end of the month,” Guterres wrote.

In a bid to cut costs, the UN chief also proposed postponing conferences, meetings and also reducing services. He also mentioned restricting official travel to only essential activities along with taking measures to save energy.

Guterres had asked member states earlier this year to increase contributions to the world body citing cash flow problems but the proposal was rejected, a UN official told the news agency on conditions of anonymity. He said the ultimate responsibility for the UN’s financial health lies with the member states and only their funding can help sustain operations. Besides the amount it pays towards peacekeeping operations, the report stated that the UN’s operating budget for 2018-19 is close to $5.4 billion.

 

-Tags:#Guterres

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