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UN sounds alarm on cash crisis, warns it may default on bills by month's end


Added 10-09-19 11:29:01am EST - “The United Nations is facing its worst cash crisis in nearly a decade? and is warning that it may be unable to pay the? bills by the end of the month, while urging member states to pay their contributions to the world body immediately.” - Foxnews.com

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Posted By TheNewsCommenter: From Foxnews.com: “UN sounds alarm on cash crisis, warns it may default on bills by month’s end”. Below is an excerpt from the article.

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The United Nations is facing its worst cash crisis in nearly a decade and is warning that it may be unable to pay its bills by the end of the month, while urging member states to pay their contributions to the world body immediately.

Secretary-General Antonio Guterres wrote to member states this week, saying that as of the end of September, they have only paid 70 percent of budget contributions, compared with 78 percent at this time last year.

“The Organization runs the risk of depleting its liquidity reserves by the end of the month and defaulting on payments to staff and vendors,” a statement by Guterres spokesman Stephane Dujarric said.

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