The renminbi is still non convertible.

Second, China will have to make its currency convertible.

The regular resources cash balance at the end of 2004 was 329 million, consisting of 318 million in convertible currencies and 11 million in non convertible currencies.

Table 5 Non convertible currencies held at 31 December 2004

(The yuan should be included as soon as China makes its currency convertible.)

Bank reserves were in silver coins, and banknotes were convertible solely into silver.

Contingent convertible bonds, or cocos, have been proposed as a solution to this problem.

The equivalent of 1,491,424 ( 1,099,180) is held in currencies classified as non convertible, as follows

Having also considered the notes by the Secretary General on the Senior Management NetworkA 60 209. and the mobility and hardship allowance,A 60 723.

5. Notes with concern the decline in the proportion of nationals of developing countries in posts at the senior and policy making levels of the Secretariat

The financial plan for 2004 recommended a minimum regular resources convertible cash balance of 79 million.

6. Notes that the proposed Senior Management Service would not require a special pay and benefits package, as mentioned in paragraph 80 of the report of the Commission

That the exported goods are furnished against foreign currency convertible within three months of the date of shipment.

Table 5 shows details of the United States dollar equivalent of non convertible currencies held at 31 December 2004.

However, OIOS notes the need for senior management of UN Habitat to take immediate steps to (a) narrow the scope of the Programme and focus on fewer activities (see para.

The lesson of the 1960 s suggests that a fully convertible renminbi could rapidly become a major international reserve currency.

2. Notes with disappointment the insufficient progress made with regard to the representation of women in the organizations of the United Nations common system, and in particular their significant underrepresentation at senior levels

Turnover among senior and not so senior people in these agencies is very high.

d. Issuance of briefing notes on press conferences and briefings by the Secretary General, the Deputy Secretary General, delegations and other senior Secretariat and United Nations officials, including daily briefings by United Nations spokespersons

Working capital is measured through the difference between resources in cash or readily convertible into cash (Current Assets), and cash requirements (Current Liabilities).

Financial contributions to accounts established under Article 18 shall be payable in freely convertible currencies and shall be exempt from foreign exchange restrictions.

C. Senior Management Network

A. Senior Management Service

Senior Adviser (D 1)

C. Senior Review Group

Senior Administrative Personnel Officer

Senior External Relations Adviser

Some of the amino acids are convertible (with the expenditure of energy) to glucose and can be used for energy production just as ordinary glucose.

Senior Humanitarian and Development Officer

Senior Radio Technician (FS 5)

Senior Radio Operator (FS 5)

Financial disclosure by senior officials

Parties could be asked to agree that annual contributions be fixed in euros and the equivalent of the euro amount be paid in any convertible currency.

Selection and appointment of senior officials

Improving the performance of senior management

Senior judge at the highest grade

Senior Magistrate (since 1 January 1996)

1 Senior Police Adviser (P 5)

Representation at senior levels is needed.

This is truer of senior doctors.

Second, China will have to make its currency convertible. Third, the position of the euro will strengthen over time as more countries will join the euro zone.

Notes

Notes

Notes

Notes