Amid ‘severe liquidity crisis’, UN chief says struggling to pay salarieshttps://indianexpress.com/article/india/amid-severe-liquidity-crisis-un-chief-says-struggling-to-pay-salaries-6060245/

Amid ‘severe liquidity crisis’, UN chief says struggling to pay salaries

The UN is facing a “severe liquidity crisis”, reaching its deepest deficit of the decade, UN Secretary General Antonio Guterres has said, warning that the world organisation will not have enough cash by next month to cover payrolls.

Amid 'severe liquidity crisis', UN chief says struggling to pay salaries
India is among a handful of only 34 UN member states which paid their regular budget dues in full and on time to the world organisation. (File Photo)

The UN is facing a “severe liquidity crisis”, reaching its deepest deficit of the decade, UN Secretary General Antonio Guterres has said, warning that the world organisation will not have enough cash by next month to cover payrolls.

Guterres warned that in the current month, the organization will reach the deepest deficit of the decade. “We risk exhausting the closed peacekeeping cash reserves, and entering November without enough cash to cover payrolls,” he said.

India is among a handful of only 34 UN member states which paid their regular budget dues in full and on time to the world organisation. India paid 23.25 million dollars in regular budget assessments by January 31, 2019, the 30-day due period specified as per UN’s Financial Regulation rules.

Only 33 other nations paid their regular budget assessments in full within this 30 day due period. Subsequent to the end of the 30 day due period (January 31), 95 additional member states paid their 2019 regular budget assessment in full.

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As of October 8, 2019, 129 Member States have paid their regular budget dues in full, according to UN sources. Member states have paid $1.99 billion towards the 2019 regular budget assessment, while the outstanding amount for 2019 for regular budget is $1.386 billion.

However, 64 states are yet to pay their regular budget dues in full for 2019. These include Afghanistan, Bangladesh, Brazil, Central African Republic, North Korea, Iran, Israel, Mexico, Oman, the Philippines, South Korea, Saudi Arabia, Sri Lanka, US and Venezuela.

While India has been among the few countries to have fully paid its dues to the UN on time, the UN owed India $38 million, among the highest it has to pay to any country, for peacekeeping operations as of March 2019.

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