Overall UN financial situation sound, but with cash flow problem: senior official

The overall financial condition of the United Nations is "a sound one" but there is a cash flow problem because many member states have not fully paid their assessed contributions, UN Under-secretary-General for Management Yukio Takasu told reporters here Thursday.

Only 27 of the 193 member states have paid in full, he said at a press conference at UN Headquarters in New York.

The regular 2016-2017 biennial regular budget is for about 5.6 billion U.S. dollars, Takasu said, and of that about half is due to be paid this year. But only 1.89 billion U.S. dollars have been paid so far and there is a campaign underway to get those nations behind in their payments to come up with their share.

There is a separate budget of about 8.2 billion U.S. dollars for peacekeeping operations this budget year which runs from July to June as opposed to the regular budget running along with the calendar year.

"Financials for peacekeeping are fine," Takasu said, explaining the organization can borrow from the peacekeeping fund.

In a squeeze, "We have to borrow from peacekeeping," he said. "How long can we continue? It all depends on how member states happen to pay fully."

However, such a move can delay payments to countries owed for peacekeeping expenses.

"My conclusion is the financial situation of the United is overall sound," Takasu said. "However, my concern is regular budget cash flow." Enditem