UN Warns It May Default on Salaries by November in a Cash Crisis
- About $1.4 billion in payments is outstanding, Guterres says
- Countries yet to pay their dues are Argentina, U.S., Senegal
Antonio Guterres
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United Nations Secretary-General Antonio Guterres warned that the global body is facing its worst cash crisis in about a decade and runs the risk of defaulting on payments to staff and vendors.
Many members are behind on their payments, forcing the UN to cut back on travel, purchases of goods and services and conferences, Guterres said. The cash crunch is “undermining the implementation of mandates decided by inter-governmental bodies,” he added in a statement on Tuesday.