UN running out of money
Staff at the United Nations have been told to cut back on conferences, only take essential travel and put off purchases as the organization is running out of money.
In a letter sent to staff, the Secretary General Antonio Guterres, says member states have only paid 70% of what they owe and the UN will have to spend part of its cash reserves to maintain operations. It could run out of cash by the end of the month.
Guterres says it has a cash flow crunch of USD 230m. In the letter to staff, he says he’s working to protect salaries and benefits.
The UN’s budget for all operations, except peace keeping, is over 5 billion dollars.
The United States stumps up 22% of that and still owes USD 674m for this year – but the country always pays late and tends to pay in October after the end of the US fiscal year.
But there are 64 other countries behind, South Korea owes USD 64m and Mexico USD 39m. Other countries owing several million include Israel, Iran and Venezuela.