Statement by the Controller on the current financial situation of the United Nations

Therefore, unless further contributions are forthcoming, the Agency will not be in a position to fully implement its budgeted activities in 2005.

Regular budget and assessed contributions

The financial situation of UNRWA was a matter of great concern.

To judge China s economic dynamism, the key indicator is its fiscal position. When, and only when, China s fiscal position is worsening rapidly will its economy suffer a hard landing.

The financial situation as at 31 March 2005 can be summarized in the following major points

So Europe needs a short term growth strategy to supplement its financial support package and its plans for fiscal consolidation.

But this has changed with the creation of a European rescue fund in the form of the European Financial Stability Facility (EFSF).

The first rule in assessing a government s real strategy is to follow the money.

(a) The financial statements present fairly the financial position as at the end of the period and the results of their operations for the period then ended

This situation will be aggravated by some of the dangers associated with a global economy led by the financial sector.

The deterioration of families financial situation has also left poor children deprived of educational opportunity.

Recent reports to sessions of the governing bodies have covered a wide range of issues within the context of the financial situation.

Cultural and historical links and the improved corporate financial position of South African enterprises also played a role in the internationalization process.

Their view is that the various government actions to support the financial system helped to stabilize the situation.

So grim has Japan s fiscal position become that bond issuance has exceeded tax revenue since 2009.

Management considers that the statements present fairly the financial position of the Organization and of funds held in trust by it, the results of their operations and the changes in their financial position.

Third, a more expansive requirement for financial disclosure by senior officials and better dissemination of code of conduct requirements are being introduced.

The financial situation of Kondo Inc. deteriorated and Mr. Banner asked Mr. Alan to grant the company a loan of 1 million.

On the financial situation of UNIDO, Kenya wished to register concern at the adverse impact on technical cooperation delivery resulting from the fact that one third of Member States were not paying their assessed contributions.

The present report provides an overview of the financial position of UNDP at the end of 2004 and the comparative figures for the year 2003.

In earlier reports, the Secretary General has been obliged to draw the attention of Member States to the precarious financial position of the international tribunals for Rwanda and the former Yugoslavia.

Updated information will also be submitted to the General Assembly at its sixtieth session in the annual report of the Secretary General on the status of the Fund.

And last year s earthquake, tsunami, and nuclear disaster only made a grim fiscal picture worse by requiring huge new spending on reconstruction.

A Fiscal Responsibility Law, promoted and managed locally, which seeks to reform the key institutions and to adopt a well designed fiscal rule, won't only transform the fiscal status of Puerto Rico, but will also introduce governance reforms to ensure the fiscal solvency and sustainability of the government in the long term.

Although hardly in crisis (yet), Japan s fiscal situation grows more alarming by the day.

Chile sets a target for its cyclically adjusted fiscal balance that is, the balance that emerges after accounting for the deviations in commodity prices and domestic output from their trends.

A more fundamental question is causality the state of the economy certainly affects the fiscal position, just as taxation, spending, deficits, and debts may affect economic growth.

Ms. Tamlyn (United States of America) said that, while it valued the work of the United Nations Institute for Training and Research (UNITAR), the United States was concerned about the Institute's financial situation.

So Europe needs a short term growth strategy to supplement its financial support package and its plans for fiscal consolidation. The greatest obstacle to implementing such a strategy is the EU s largest economy and its putative leader Germany.

Will the financial sector return to pre crisis growth rates when the economic situation has been fully stabilized? Will financial deepening continue?

After recording small deficits in 2002 2003 and 2003 2004, the overall fiscal situation of the provinces and territories is expected to continue to improve in 2004 2005.

However, the application of that principle had been affected by the introduction of a reduced ceiling of 22 per cent, which had been established to facilitate the payment of arrears with a view to improving the financial situation of the Organization.

The request was made via an LF representative, Elie Abou Assi, who reported difficulty of the financial situation of the party and to a certain extent have become unable to secure the salaries of employees in the party.

Although the financial situation is expected to show further improvement by the end of 2005, this is very much dependent on the receipt of significant payments by the end of the year.

According to the CDB, in the public sector, containment of expenditures, particularly on capital items, offset revenue shortfalls and led to an improvement in the Government's overall fiscal position.7

The opinion of the Board on the financial position, results of operations and cash flows of the capital master plan will be included in its opinion on the financial statements of the United Nations for the biennium ending 31 December 2005.

State

8. Notes, in regard to strengthening the overall financial situation of the United Nations Environment Programme, the various available options and the efforts being undertaken to enhance predictability in financing its programme of work and broadening its base of contributions

Policies to support municipalities with a good financial standing and favourable credit rating that have tried to meet some of their investment needs by tapping local bond markets could yield good results.

The financial situation of the United Nations was an inevitable cause for concern in that connection, it was necessary further to explore new and innovative ways and means of raising funds for peacekeeping operations.

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