The United Nations now stands on the brink of a serious financial crisis, with UN Secretary-General Antonio Guterres saying in a letter to all UN member nations on Friday that cash for its regular operating budget could run out by July. “Either all member states honor their obligations to pay in full and on time — or member states must fundamentally overhaul our financial rules to prevent an imminent financial collapse,” he said.

The crisis stems primarily from the chronic underpayment of dues by some member states, particularly the United States, which has historically been the largest financial contributor to the UN, accounting for 22 percent of its core budget. Yet the country now owes about $2.2 billion to the world body’s regular budget, including $767 million for this year. The US recently withdrew from the World Health Organization with hundreds of millions of dollars in unpaid bills after the US administration had made it clear that it will withdraw from 66........

© The Frontier Post (Editorial)