UN may run out of money by Oct-end: Guterres
United Nations Secretary General Antonio Guterres has said the intergovernmental organisation is facing deficit of $230 million and may run out of money by the end of October this year.
In a letter intended for the 37,000 employees at the UN secretariat, he said on Monday (Oct 7) that unspecified "additional stop-gap measures" would have to be taken to ensure salaries and entitlements are paid, according to a news item of NDTV.
"Member States have paid only 70 per cent 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.
Guterres mentioned postponing conferences and meetings, reducing services, restricting official travel to only essential activities and taking measures to save energy for cutting costs.
He 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 said on condition of anonymity.
"The ultimate responsibility for our financial health lies with Member States," Guterres said.