RhodyPatriot
Diamond Member
- Aug 28, 2022
- 19,436
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From the FAR RIGHT, super BASED.....Economist?
I'm pinching myself to wake up.
With overwhelming glee each time it doesn't happen.
www.economist.com
Please please, it's too much winning!
I'm pinching myself to wake up.
With overwhelming glee each time it doesn't happen.
On May 5th the UN will brief members on a previously unreported $600m (17%) cut to its $3.7bn budget aimed at avoiding default this year. It will include a hiring freeze while officials consider further savings that a Western diplomat describes as “moving jobs from New York to Nairobi”.
Yet it may not be enough. A combination of deadbeat members and mad budget rules have led to a liquidity crisis. Now, a leaked White House memo proposing that America stop paying its mandatory contributions threatens a financial crash in the citadel of peace and security.
Last year the UN had a $200m cash shortfall, despite spending only 90% of its planned budget. This year will be much worse. Internal modelling suggests that the year-end cash deficit will, without cuts, probably blow out to $1.1bn, leaving the UN without money to pay salaries and suppliers by September.
Most UN funding, such as for bodies providing humanitarian food or shelter, is voluntary, but the core functions are paid for through mandatory dues, linked to the size of members’ economies. These core functions include General Assembly meetings, peacekeeping and human-rights monitoring. In a letter seen by The Economist that Mr Guterres sent to members in February, he warned that the peacekeeping budget to pay for troops may run dry by mid-year.

The UN could run out of cash within months
America and China are pushing it to the brink of financial collapse
Please please, it's too much winning!
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