UN May Run Out of Money by End of October, Struggling With $230mn Deficit: Antonio Guterres
Antonio Guterres had asked member states earlier this year to up contributions to the world body to head off cash flow problems, but they refused, a UN official said on condition of anonymity.
File photo of UN chief Antonio Guterres.(Photo: Reuters)
United Nations: The United Nations is running a deficit of $230 million, Secretary General Antonio Guterres said on Monday, and may run out of money by the end of October.
In a letter intended for the 37,000 employees at the UN secretariat and obtained by AFP, Guterres said unspecified "additional stop-gap measures" would have to be taken to ensure salaries and entitlements are paid.
"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 $230 million at the end of September. We run the risk of depleting our backup liquidity reserves by the end of the month," he wrote.
To cut costs, Guterres mentioned postponing conferences and meetings and reducing services, while also restricting official travel to only essential activities and taking measures to save energy.
Guterres had asked member states earlier this year to up contributions to the world body to head off cash flow problems, but they refused, a UN official said on condition of anonymity.
"The ultimate responsibility for our financial health lies with Member States," Guterres said.
Not including what it pays for peacekeeping operations, the UN's operating budget for 2018-2019 is close to $5.4 billion, with the United States contributing 22 percent.
Recommended For You
- Bigg Boss 13: Koena Mitra Accuses Salman Khan of Defending Wrong People
- Big Little Lies Actor Zoe Kravitz Joins Robert Pattinson's The Batman as Catwoman
- Android 10 Update Roll-Out Resumes For OnePlus 7, OnePlus 7 Pro
- Facebook Libra is Official, Even Though a Lot of The High Profile Partners Have Left
- All-New BMW 3-Series Test Drive Review: Performance in the Lap of Luxury