The United Nations (UN) is facing its 'worst cash crisis' in nearly a decade, according to Secretary-General Antonio Guterres.
Speaking in front of the UN's budget-setting Fifth Committee on Tuesday, Guterres said the situation was so desperate that last month's General Assembly in New York was only possible because of emergency spending cuts made earlier in the year."To be more specific, a severe liquidity crisis. The equation is simple: without cash, the budget cannot be properly implemented."
Speaking in front of the UN's budget-setting Fifth Committee on Tuesday, Guterres said the situation was so desperate that last month's General Assembly in New York was only possible because of emergency spending cuts made earlier in the year."To be more specific, a severe liquidity crisis. The equation is simple: without cash, the budget cannot be properly implemented.
The U.S., which is the largest contributor to the UN, still owes $381 million for prior regular budgets and as much as $674 million for the 2019 regular budget,Washington typically pays its dues in the fall.has previously said the world's largest economy is shouldering too much of the burden when it comes to the cost of the world body. The U.S. president has also called for reforms of the UN.
The secretary-general said Tuesday that last week he had been "forced to introduce extraordinary measures to cope with the record-level shortage of cash."
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