UN Chief: We're Almost Out of Money

Antonio Guterres says organization might run out of cash by end of the month
By Newser Editors,  Newser Staff
Posted Oct 8, 2019 1:37 PM CDT

(Newser) – The UN has a serious money problem, says Secretary-General Antonio Guterres. As in, it might run out of it by Halloween. In a letter to UN employees obtained by CBS News, Guterres revealed that the organization is running a deficit of $230 million. As a result, "we run the risk of depleting our backup liquidity reserves by the end of the month," he wrote. Guterres pinned the blame on member states, saying they've contributed only enough to cover 70% of the annual operating budget.

"The ultimate responsibility for our financial health lies with member states," Guterres wrote. He suggested cost-cutting measures including postponing conferences and limiting travel. The UN's 2018-19 operating budget is $5.4 billion, and the US covers the biggest share of that at 22%. (President Trump has long chafed against the size of the US contribution, and he has called the UN a "club for people to have a good time.")

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