What would the world do without the UN? Cross your fingers, but we may get the opportunity to find out.
The United Nations is facing a “dire” liquidity crisis as it deals with added expenses related to the need to “respond to the global health crisis” of coronavirus, according to an email from Movses Abelian, the U.N. undersecretary general for General Assembly and conference management.
Pollard said that due to the “deteriorating liquidity situation in both regular budget and peacekeeping operations, the Secretary-General has directed additional measures across all Secretariat entities to manage expenditures and liquidity.”
Come on guys, we’re low on cash. Let’s limit it to two meals at five-star restaurants each day for the upper ranks and only two abused Haitian orphans for our peacekeepers.
The austerity measures outlined in the memo, she wrote, “will hinder our ability to carry out the work of the Organization at a time when the world needs the United Nations more than ever.”
To do what? What does humanity need from the UN besides its money back?
The management chief said contributions for regular budget assessments have sharply declined in the first quarter of 2020 relative to earlier years, explaining that the payment of assessments by Member States has “resulted in a collection gap of more than $220 million.”
The memo said the U.N. will temporarily suspend all hiring for regular budget vacancies and “postpone all discretionary spending unless it is directly and immediately linked to ongoing mandated activities, which are not impacted by the restrictions caused by the pandemic.”
Peacekeeping operations around the world also face “increasing liquidity pressure,” she said. The current cash position of about $1.4 billion is “barely sufficient” to maintain field operations through the end of June.
Abelian sent an email with further explanation of the Pollard memo, also obtained by CBS News, that said the world body is using up most of its reserves: “In the first three months of the year, the Secretariat has utilized most of the cash balance carried over from 2019 which has dropped from about $200 million to $50 million at the beginning of 2020.”
Is the UN too big to fail?
But at this rate, George Soros ought to be able to buy the damn thing outright. Which should simplify the organizational flowchart.
I do hate to rain on my own parade, but the UN complaining about running out of money is a grand tradition that does not especially reflect reality. Like the Palestinian Authority and your cousin Bob, the UN is always running out of money, but never actually does.
The UN claims cash shortages, pleads for money, gets half of what it demands, and blows the proceeds on some spectacular orgies.