15:14 | 27/07/2018 Global Economy
UN Secretary General Antonio Guterres sent a letter to the UN member states expressing his concern over the "troubling" financial situation of the organization and urged for the countries to pay their mandatory contributions promptly.
|Secretary General António Guterres of the UN said Thursday that delayed contributions by many member states had created a cash shortfall - Photo: EPA|
According to the UN, there were 81 states who had not yet paid their contributions this month.
Guterres' spokesman Stephane Dujarric said during his regular briefing on Thursday that the cash flow has never been this low so low at this time of the year. In June last year, the member states paid over US$1.70 billion in assessed contributions, while this year the payments were now standing at only US$1.49 billion, the spokesman added.
The UN is financed via assessed and voluntary contributions made by member states. The assessed contributions are generally estimated by calculating the financial capacity of each member state and its gross national income.
UN specialized agencies, such as the UN Educational, Scientific and Cultural Organization (UNESCO), the World Health Organization (WHO), the International Monetary Fund (IMF) are funded by both voluntary and assessed contributions, while special programs, including the UN Children's Fund (UNICEF), the UN Development Program (UNDP) and the World Food Program are funded by voluntary contributions.