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.

Are these harbingers of a robust recovery for the financial sector, or just urban myths?

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.

China s strong fiscal position today gives it a window of opportunity.

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.

Some financial segmentation is a price well worth paying for stronger regulations that are solidly backed by domestic politics.

Unfortunately, the fiscal stimulus was not well enough designed to get the economy onto a strong, self sustaining growth path.

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.

Just a year ago, the United States had five major freestanding investment banks that stood atop its mighty financial sector.

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.

Among the reasons for this increase, he has noted that the noble ideals of competition and mutual respect are being eroded by the exacerbation of the nationalistic dimension of competitions and the overemphasis on money.

However, their full force was revealed by the financial crises in East Asia (UNCTAD, 2000), a region with a long standing record of strong growth and fiscal discipline.

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.

They do not have to exceed their previous high water mark in order to draw a paycheck. They have social responsibilities, and they know it.

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

Central banks, they argue, now have two goals restoring robust growth and low unemployment with low inflation, and maintaining financial stability without bubbles.

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.

Second, the financial system both banks and non bank institutions is severely damaged. Lack of robust credit growth will hamper private consumption and investment spending.

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.

At a time when strong, coordinated action is needed to stave off financial collapse in the European Union, the popular support that drove European integration over the last six decades is waning.

As long as the status quo persists, with strong global growth and stunning macroeconomic stability, the US can continue to borrow and run trade deficits without immediate consequence.

For one thing, risk takers are typically small, cohesive interest groups that, once rescued, have a powerful incentive, as well as the resources, to buy the political influence needed to ensure a return to the status quo ante.

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.