Guterres warns of 'severe liquidity crisis' at UN

UN Secretary General Antonio Guterres has warned that the world organisation is facing a severe liquidity crisis, reaching its deepest deficit of the decade and will not have enough cash by next month to cover payrolls.

As he sounded a dire warning on the world organization's financial situation, Guterres called on the 193 Member States to pay their financial dues on time.

"the Organisation is facing a severe financial crisis. To be more specific, a severe liquidity crisis. The equation is simple: without cash, the budget cannot be properly implemented, Guterres said Tuesday in remarks to the General Assembly's Fifth Committee, which deals with administrative and budgetary issues, on the Proposed Programme Budget for 2020.

Guterres warned that in the current month, the organization will reach the deepest deficit of the decade.

"We risk exhausting the closed peacekeeping cash reserves, and entering November without enough cash to cover payrolls, he said.

As I introduce the 2020 ...