The UN’s financial crisis has been years in the making and is undermining the organization’s mandates and reform efforts, Secretary-General António Guterres told the Fifth Committee, the body responsible for the United Nations budget, on Tuesday.
United Nations Secretary-General Ban Ki-moon today praised the UN's advisory committee on budgetary matters for its help in carrying out the world body's lifesaving work around the world, as the 16-member body marked the 70th anniversary of its establishment.
Introducing his proposed $5.5 billion budget for the work of the United Nations over the next two years, UN Secretary-General Ban Ki-moon said today that it encompasses the Organization’s “vision and commitment to budget discipline and strict financial management.”
With its limited cash reserves, the financial health of the United Nations is “totally dependent” on how quickly and how much Member States pay towards Organization’s operations, the top UN management official told journalists in New York today.
Secretary-General Ban Ki-moon today presented a proposed budget of $5.4 billion for the United Nations over the next two years, after instructing managers to rethink business practices, reduce overlap, embrace innovation, encourage creativity and build synergies.