By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.
  • News
    • News Menu
  • Business
  • Economy
  • Governance
  • Politics
    • North Central
      • Benue Update
      • Kogi Update
      • Kwara Update
      • Nasarawa Update
      • Niger Update
      • Plateau Update
      • FCT Update
    • North East
      • Adamawa Update
      • Bauchi Update
      • Borno Update
      • Gombe Update
      • Taraba Update
      • Yobe Update
    • North West
      • Jigawa Update
      • Kaduna Update
      • Kano Update
      • Katsina Update
      • Kebbi Update
      • Sokoto Update
      • Zamfara Update
    • South East
      • Abia Update
      • Anambra Update
      • Ebonyi Update
      • Enugu Update
      • Imo Update
    • South South
      • Akwa Ibom Update
      • Bayelsa Update
      • Cross River Update
      • Delta Update
      • Edo Update
      • Rivers Update
    • South West
      • Ekiti Update
      • Lagos Update
      • Ogun Update
      • Ondo Update
      • Osun Update
      • Oyo Update
  • Sports
    • SOCCER
      • Football
      • Sports
      • AFCON
      • NPFL
      • Premier League
    • EURO SOCCER
      • Champions League
      • Europa Conference
      • Europa League
      • La Liga
      • Boxing
      • Tennis
      • UFC
  • Editorial
  • MORE
    • Opinion
    • Entertainment
    • Investigation
    • Politics Lite
    • Publications
    • Travelogue
Reading: Financial crisis hits UN, cuts spending, freezes hiring, scales back services
Share
Notification Show More
Font ResizerAa
Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports.
Font ResizerAa
  • Politics
  • Business
  • Technology
  • News
    • News Menu
  • Business
  • Economy
  • Governance
  • Politics
    • North Central
    • North East
    • North West
    • South East
    • South South
    • South West
  • Sports
    • SOCCER
    • EURO SOCCER
  • Editorial
  • MORE
    • Opinion
    • Entertainment
    • Investigation
    • Politics Lite
    • Publications
    • Travelogue
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports. > Blog > News > United Nations > Financial crisis hits UN, cuts spending, freezes hiring, scales back services
United Nations

Financial crisis hits UN, cuts spending, freezes hiring, scales back services

admin
Last updated: May 20, 2025 7:44 am
admin
1 year ago
Share
SHARE

The UN says it has been forced to cut spending, freeze hiring and scale back some services as the global organisation faces a worsening cash crisis.

Member States on Monday, urged members to pay up, warning that the deepening financial crisis threatened the world body’s ability to carry out vital work.

The General Assembly’s Fifth Committee met throughout Monday to discuss the multilateral organisation’s financial health.

With a growing shortfall in contributions, member states owed $2.4 billion in unpaid regular budget dues and $2.7 billion in peacekeeping.

Officials warned that the non-payment of contributions risked eroding the UN’s credibility and its capacity to fulfil mandates entrusted to it by member states.

Switzerland’s delegate, speaking also on behalf of Liechtenstein, said “Each delay in payment, each hiring freeze, each cancelled service chips away at trust in our ability to deliver”.

One proposed solution was to allow the UN to temporarily keep unspent funds at year’s end, instead of returning them to member states as credits.

Currently, this return is mandatory, even if the funds arrive late in the year, giving the UN little time to spend them.

The suggested change would be expected to act as a buffer to keep operations running, particularly in January when payments tend to lag.

Delegates also backed limited use of “special commitments”, which is emergency funding tools, early in the year to bridge gaps caused by delayed contributions.

While these fixes might help, several speakers, including delegates from Kazakhstan, Norway and the United Kingdom, emphasised that the root cause was the continued late or non-payment of dues.

Norway noted that such temporary measures would not solve the underlying problem and urged member states to support bold financial reforms.

The European Union stressed that the crisis was not abstract,  adding they were real operational risks and the burden could not fall solely on countries that paid on time.

Singapore, speaking for the Southeast Asian group of nations, ASEAN, echoed concerns that the UN’s liquidity problems had become routine.

It cited the UN Economic and Social Commission for Asia and the Pacific’s (ESCAP) need to shut its offices for three months and suspend travel and hiring.

Particularly troubling to many delegates was the fact that one country, unnamed in the meeting but widely known to be the U.S. was responsible for over half of all unpaid dues.

The U.S. under President Donald Trump, is reportedly withholding the funds due to the UN for political reasons.

Russia called for more transparency in how the UN managed cash-saving measures, cautioning against actions taken without member states’ input.

Catherine Pollard, the UN’s top management official, noted that since May 9, a handful of countries had paid in full across several budget categories, while the number of nations who had paid in full for the regular budget stood at 106 for the year.

As of May 19, the UN records showed only 61 countries had met all their UN’s obligations in full.

The message from member states on Monday clearly states that without broad, timely financial support, the UN’s ability to serve the world, especially in times of crisis, is at serious risk.

You Might Also Like

Crude Oil: US shores up reserves with additional 3 million barrels
UN Human Rights Chief Condemns U.S. Military Intervention in Venezuela
Increased Investment In Women Will Improve Nigeria’s GDP -UN
US Announces 2025 Visa Waiver List, Excludes Nigeria, Other Countries
UN Chief Guterres Mourns Deadly School Shooting in Rural Canada
TAGGED:Catherine PollardPRESIDENT DONALD TRUMPUN cash crunchUNITED NATIONS
Share This Article
Facebook Email Print
Previous Article Court dismisses Philip Shaibu’s N50bn suit against ex-Gov. Obaseki, others
Next Article Arabic agency diploma versus WAEC, NECO certificates
about us

We influence 20 million users and is the number one business and technology news network on the planet.

Find Us on Socials

© Nigerian Anchor. All Rights Reserved.
na_logo
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..
[mc4wp_form]
Zero spam, Unsubscribe at any time.
NA Logo For Search
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?