Dear MEL Topic Readers,
UN risks 'imminent financial collapse', secretary general warns
Founded in 1945 after World War II, the United Nations (UN) is an
international organization dedicated to maintaining international peace,
security, and cooperation. The organization is primarily funded by its 193
member states through mandatory assessed contributions for its two main
budgets, the regular budget and the peacekeeping budget. The US and China are
charged over 20% respectively for these two main budgets, followed by Japan,
Germany, the UK, and France, while 175 of the 193 member states were each
responsible for less than 1% of these budgets. However, a substantial portion
of members’ obligations have not been paid in full or on time, particularly by
the largest contributors, including the USA, China, and Russia, all of which
are permanent members (P5) of the UN Security Council. The USA alone owed 1.5
billion each in regular assessment and peacekeeping dues as of April last year.
Without budgeted assessments and dues payments, the UN cannot maintain its
operations or fulfill its financial obligations. Last month, the UN chief urged
the member states to pay their unpaid dues ASAP, otherwise, the organization
could financially collapse by July.
Read the article and learn about the financial crisis of the United Nations.
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