UN Owes India $110 Million For Peacekeeping Operation

"The Secretariat is monitoring the peacekeeping cash with a view to making payments whenever possible," Takasu said.

"Payments are now being processed, and by tomorrow, the outstanding payments will be reduced from $1.3 billion to $815 million."

Takasu said the UN Secretariat is making every effort to minimize the level of outstanding payments to Member States to $501 million by year's end.

Takasu yesterday briefed the UN General Assembly's main administrative and budgetary body - known as the 'Fifth Committee' - on the Organization's financial situation.

He said 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 the organization's operations.

Takasu's semi-annual snapshot of the Organization's finances included details on the regular budget, UN peacekeeping operations, the international tribunals for the former Yugoslavia and Rwanda, and the Capital Master Plan account, which was created to manage the renovations of the world body's headquarters here.

He said while the financial situation of the UN is 'generally good,' the annual regular budget, which currently stands at $2.6 billion, has a gap of close to one billion.

France, the U.S and Italy owed the highest amounts to the UN, with unpaid assessed contributions totalling slightly more than a billion dollars in October 2014.

Also Read:
'U.S. Visit Established Good Rapport Between Modi, Obama'
Can't Fix Cooling Off Period For Judges To Take Govt Jobs: SC