UN faces a a $1.5 billion gap in budget
The United Nations is expected to face a staggering $1.5 billion gap in its annual budget for the financial year 2008-09. This deficit is seen as a direct outcome of the raging recession in the member countries contributing the most to UN’s annual budget, United States, Britain, China and Germany.
Under-Secretary-General for Management, Angela Kane, told that the countries in arrears are Brazil, China, Germany, Iran, Mexico, Norway, Republic of Korea, the United Kingdom and the United States. These together accounts for as much as a 90 per cent budget gap!
As of May 7, the listed arrears are $993 million (US), $121 million (UK), $104 million (Germany), $53 million (South Korea), $33 million (China), $21 million (Brazil), $19 million (Norway), $13 million (Iran) and $13 million (Mexico).
The remainder is about $85 million.
Kane said she understands the present fiscal downturn at the global level. “Member States are having a harder time meeting their financial obligations, ” She said.
