UN, risk of financial collapse from unpaid fees - Secretary Guterres: Members must respect deadlines for obligations
UN Secretary-General Antonio Guterres warned that the organization is at risk of "imminent financial collapse," citing unpaid fees and a budget rule that forces the global body to return unspent money.
"The crisis is deepening, threatening program implementation and risking financial collapse. The situation will deteriorate further in the near future," were the words of Secretary-General Antonio Guterres, in a letter to ambassadors.
The UN is facing a financial crisis, as the US, the body's largest contributor, has cut voluntary funding to UN agencies and refused to make mandatory payments to the organization's budget.
In the letter, Guterres writes that "decisions to disregard assessed contributions that fund a significant portion of the budget are now officially unmasked." It is not yet clear which countries the top UN official was referring to.
"Either all member states must respect their obligations to pay in full and on time, or we must radically revise our financial rules to prevent an imminent financial collapse," he said in outrage, warning that the money could run out by July.
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