UN Running Out Of Cash

Discussion in 'Markets & Economies' started by SilverDJ, Oct 9, 2019.

  1. SilverDJ

    SilverDJ Well-Known Member

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    Oops
    https://www.cbsnews.com/news/united...neral-antonio-guterres-says-today-2019-10-08/

    United Nations could run out of money in a few weeks, Secretary General warns


    UPDATED ON: OCTOBER 8, 2019 / 11:54 AM / CBS/AFP

    United Nations — The United Nations is running a deficit of $230 million, Secretary General Antonio Guterres said on Monday, and may run out of money by the end of October. In a letter intended for the 37,000 employees at the UN secretariat and obtained by CBS News' Pamela Falk, Guterres said unspecified "additional stop-gap measures" would have to be taken to ensure salaries and entitlements are paid.

    "Member States have paid only 70 percent of the total amount needed for our regular budget operations in 2019. This translates into a cash shortage of $230 million at the end of September. We run the risk of depleting our backup liquidity reserves by the end of the month," he wrote.

    To cut costs, Guterres mentioned postponing conferences and meetings and reducing services, while also restricting official travel to only essential activities and taking measures to save energy.

    Guterres had asked member states earlier this year to up contributions to the world body to head off cash flow problems, but they refused, a UN official told French news agency AFP on condition of anonymity.

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

    Not including what it pays for peacekeeping operations, the UN's operating budget for 2018-2019 is close to $5.4 billion, with the United States contributing the largest share at 22 percent.

    As the Council on Foreign Relations explained earlier this year, U.S. contributions are vital to the UN's operations, and cuts to discretionary contributions implemented by Mr. Trump's administration have already forced the UN agency that serves Palestinian refugees to make deep cuts.

    The White House has been pushing for a broad reassessment of the U.S. contribution to the UN budget since Mr. Trump took office.
     
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  2. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Wouldn’t that be nice?
     
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  3. Number 47

    Number 47 Active Member

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    That's the best news I've heard all year.

    What can I do to help dry up whatever funds they have left?
     
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  4. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    here there everywhere
    The printers run out of ink :eek:
     
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  5. JulieW

    JulieW Well-Known Member Silver Stacker

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    Bunch of parasites complaining that the gravy boat is running low.

    Diddums.
     
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  6. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    If you would be good enough to send me your bank details I should be able to move the remaining $15,000,000 out of Nigeria.
     
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  7. SilverDJ

    SilverDJ Well-Known Member

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    There is always this option:

     
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  8. alor

    alor Well-Known Member Silver Stacker

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    just use the UN troops to buzz those trillion dollars stacked in undisclosed locations, and see how are the owners going to do watch about them in green papers, they are stolen items anyway.
     
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  9. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Too funny.

    The UN can always monetise some assets they own like the UN building in NY...Trump Corp could buy it.

    UN could then move to closer to the people they claim to aid...Central Africa comes to mind.
     
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