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Guterres warns United Nations may run out of money by end of month

Guterres warns United Nations may run out of money by end of month”

He told the 193-member UN General Assembly's budget committee that if he had not worked since January to cut spending then the "we would not have had the liquidity to support" the annual gathering of world leaders last month.

By the end of September, Dujarric said, member states had paid only 70% of the total assessment for the regular budget, compared with 78% at the same time a year ago.

129 of the 193 countries have already paid their 2019 fees, a United Nations spokesperson reported.

Past year it contributed about 22 percent of the UN's annual budget.

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

With only 128 of the 193 member countries having paid their dues in full as of October 3, he has reportedly warned United Nations staffers that the organisation faced a shortfall of $230 million.

The United States is responsible for almost 28 percent of the peacekeeping budget but has pledged to pay only 25 percent - as required by USA law.

More news: Canada’s entertainment industry is losing millions due to the coronavirus pandemic

US taxpayers would most likely be hardest hit by any immediate cash injection into the global organization.

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 largest late payer is the United States, the fifth permanent member of the UNSC. "We risk. entering November without enough cash to cover payrolls", said Guterres. This amounts to just under $2 billion (€1.8 billion) of the $3.3 billion (€3 billion) set for 2019.

"The ultimate responsibility for our financial health lies with Member States", Guterres said.

Guterres said the plan represented a "profound reflection on the path ahead and deep commitment to our shared work", according to the spokesman.

With hiring and non-salary expenditure limited by liquidity, "this undermines mandate delivery and goes against our efforts to focus less on inputs and more on results", he added.

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



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