World News

UN might not have enough money to pay staff next month

UN might not have enough money to pay staff next month

UN Secretary-General António Guterres wrote to member states this weekend regarding the "worst cash crisis" facing the global body in almost 10 years, according to a statement issued by his spokesperson. As in, it might run out of it by Halloween. "We run the risk of depleting our backup liquidity reserves by the end of the month". Member states have paid $1.99 billion towards the 2019 regular budget assessment, while the outstanding amount for 2019 for regular budget is $1.386 billion.

"We are now driven to prioritize our work on the basis of the availability of cash, thus undermining the implementation of mandates decided by inter-governmental bodies", said Dujarric's statement.

Because of the US government's budget calendar, Washington usually pays its dues in October.

However, 64 states are yet to pay their regular budget dues in full for 2019.

The United Nations is running low on liquid assets and may not have enough money to cover staffers' salaries next month, according to Reuters.

Mr Guterres had asked member states earlier this year to up contributions to head off cash flow problems, but they refused, a United Nations official said on condition of anonymity.

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.

More news: Hundreds of arrests as London climate change activists vow more protests

United Nations spokesperson Stephane Dujarric said so far 129 countries had paid their dues for 2019, which amounted to nearly two billion dollars.

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%.

Guterres said he introduced extraordinary measures last month to cope with the shortfall - vacant posts can not be filled, only essential travel is allowed, some meetings may have to be cancelled or deferred.

The UN has a separate budget for peacekeeping operations, which also operates consistently in a deficit mode.

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

UN Spokesperson Stéphane Dujarric told correspondents in NY that others needed to pay "urgently and in full".


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