It further requested the Director General to continue his efforts and contacts with Member States to secure the collection of arrears and fulfilment of their financial obligations. It welcomed the initiative taken by a number of countries in concluding payment plans with UNIDO to settle their outstanding arrears.

(Millions of United States dollars)

Measures to encourage the payment of arrears

A distinction should be made between arrears resulting from a liquidity crisis and those caused by a solvency crisis.

Privileges will be restored once the arrears have been paid in full.

The facts have proved that arrears are the crux of the financial crunch.

peaceful settlement of disputes between States . 42 50 15

In order to deal with arrears when they emerge, a distinction should be made between arrears resulting from a liquidity crisis and those caused by a solvency crisis.

(a) Substantial payment of arrears are made by Member States

All arrears of assessed contributions should be paid by Member States.

for the peaceful settlement of disputes between States

Arrears are, however, not the most comprehensive indicator of debt servicing difficulty a country can anticipate potential problems, refinance its debt and avoid being forced into arrears.

This must include discussions on incentives for timely payment as well as sanctions on arrears, inter alia the possibility of charging interest on arrears.

The Protection Information Section had a significant backlog.

The burden of servicing debt and the payment of arrears have a suffocating effect on the economies of developing countries.

Overtime is constantly being required to deal with a backlog of cases.

It is high time to measure the generosity of words against the yardstick of arrears due our Organization.

But during the same period, four new countries began accumulating arrears.

Payment of interest on arrears should become standard practice and should be enforced.

After earlier reductions, all remaining arrears to the Inter American Development Bank were cleared in 1992, but the amount of arrears to the African Development Bank almost doubled in 1992 to 119 million.

B. Promotion of means and methods for the peaceful settlement of disputes between States, including resort to and full

Settlement of disputes

Settlement of disputes

Normalizing tracks

Settlement of disputes

Article ___ Dispute settlement

Balance 1992 1992 Exchange Balance at

Fund adjustment Excess of expenditure

With regard to the payment of arrears, he drew attention to the technical suggestions contained in paragraphs 68 and 69, which would facilitate both the payment of arrears and the work of the Secretariat and the Committee on Contributions.

Total amount of arrears at time of signing the plan, in addition to current year's assessments.

They also hoped that the question of arrears would be considered in a favourable manner, keeping in mind related circumstances.

Reducing arrears is a shared priority, and it must be accomplished without further delay.

B. Promotion of means and methods for the peaceful settlement of disputes between States, including resort to and full respect

A dramatic change in the formula of contributions could, I submit, complicate further the problem of arrears.

If the arrears criterion was used, that was the definition that should apply.

I appeal to all Member States to pay their assessments promptly and in full and to clear their remaining arrears.

The Board recommends that serious efforts should be made to clear the arrears and to ensure the preparation of bank reconciliations regularly every month.

Pacific settlement of disputes

IV. Settlement of disputes

Settlement of commercial disputes

Dispute settlement

Amendment to proposal by the Mexican Delegation

Note by the Secretariat

Peaceful resolution of disputes

Resolution of financial crises