UN regular budget cash deficit reaches 386 million USD: official
The United Nations' regular budget cash deficit has reached its deepest in the year at 386 million U.S. dollars, a UN official said Friday, Trend reports citing Xinhua.
"As of Oct. 9, 2019, the regular budget cash deficit reached its deepest in the year at 386 million U.S. dollars, thereby exhausting the 150 million dollars from the Working Capital Fund as well as the 203 million dollars from the Special Account, and borrowing 33 million dollars from the closed peacekeeping missions," Catherine Pollard, UN undersecretary-general for management strategy, policy and compliance, told the Fifth Committee of the UN General Assembly.
"We had started borrowing from the Working Capital Fund in July, and we had to borrow from the Special Account as well in August. By late September, we had to borrow from closed peacekeeping missions, as regular budget cash reserves were so severely depleted that we risked problems with payroll payments or defaults in vendor payments," she said.
"By the end of October, we are poised to surpass last year's record cash deficit of 488 million (dollars), and risk exhausting the closed peacekeeping cash reserves also," she warned.
Speaking to reporters after the meeting, Pollard said that the United Nations is taking various measures to cut expenditures even including reducing heating and heating services starting Monday.