UN Risks Running Out Of Cash, Guterres Says 

The United Nations is at risk of running out of cash, Secretary-General Antonio Guterres, has warned.

Guterres said the situation was the worst in years.

The UN chief urged member states to pay their mandatory contributions on time and in full, so that the world intergovernmental body could continue to deliver on its key mandates.

In a letter to UN staff, the secretary-general stated that he had “written to member states regarding the troubling financial situation facing the United Nations.’’

Guterres wrote: “Caused primarily by the delayed contributions of member states to the regular budget, this new cash shortfall is unlike those we have experienced previously.

“Our cash flow has never been this low so early in the calendar year, and the broader trend is also concerning: we are running out of cash sooner and staying in the red longer.’’

Nigeria had paid its annual dues for 2018 in full, making it the 74th out of the 193 member states of the global intergovernmental organisation to fulfill its financial obligations.

Investigations revealed that Nigeria paid $5,080,178 on April 5, 2018 when 119 member states were yet to pay their regular budgets, making Nigeria the 10th country in Africa to pay its UN regular budgets in full.

At the end of June 2018, the amount of money paid by member states for the 2018 assessment stood at around 1.49 billion dollars, while at the same time in 2017, the amount paid to the regular budget was just over 1.70 billion dollars.

The General Assembly in December approved a 5.4 billion dollars two-year budget for the United Nations which was separate from the UN peacekeeping budget.

A total of 112 out of the 193 countries have paid their dues in full as of July, although this list did not include the United States, the UN’s number one financial contributor.

The outstanding amount owed for 2018 remained at nearly 810 million dollars, with 81 states yet to pay.

The United States pays 22 percent of the UN budget, but the payment occurs later in the year, in line with its national budget cycle.

During the 2017 gathering of world leaders at the United Nations General Assembly, President Donald Trump complained that the United States was shouldering too much of the cost of the world body.

“I have appealed to member states to pay their assessments on time and in full, and highlighted the risk the current situation poses to the delivery of mandates and to the reputation of our organisation,” Guterres wrote in the letter.

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