(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.

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

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

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.

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.

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.

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.

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.

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

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.

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

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

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.

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

The Committee had now considered measures to encourage the payment of arrears at eight successive sessions.

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

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

Acknowledging the importance of facilitating the timely publication of the Yearbook of the International Law Commission and eliminating the backlog,

Bilateral creditors may also extend a short term credit at the end of the programme to repay the outstanding arrears.

After I return, 13 million will be freed up as the government apos s contribution to the reduction of these arrears.

These solutions must begin with a demand for payment of arrears by certain States Members of the Organization.

13. Endorses the efforts of the Secretary General to eliminate the backlog in the publication of the Repertoire of the Practice of the Security Council

In that context, it encouraged the Comoros to consider the possibility of submitting a multi year payment plan.

Endorses the efforts of the Secretary General to eliminate the backlog in the publication of the Repertoire of the Practice of the Security Council

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.

Regarding interest on or indexation of arrears, should the General Assembly decide to introduce interest charges on arrears, the rate should be fixed at a low level and should not have retroactive effect, and the annual rate should not exceed 1 per cent.

8. Endorses the efforts of the Secretary General to eliminate the backlog in the publication of the Repertoire of the Practice of the Security Council

Guinea Bissau was committed to paying its contributions to the United Nations and would keep the issue of multi year payment plans under continuous consideration.

Measures to facilitate the payment of arrears should also take account of the special circumstances of developing countries.

The Administration has advised that the arrears in the preparation of bank reconciliations have been cleared and that they are prepared every month on a regular basis.

In addition, a number of payments were received and credits applied.

The discussion concerning measures to encourage the payment of arrears also gave rise to grave concern.

which recommended that payments be made by Member States through their IPFs, but that these should be used for current arrears and not for payment of future contributions.

A number of speakers urged that the possibility of improving the terms and conditions of current mechanisms for handling arrears should be examined.

Our first objective must be to work on arrangements that will lead to the clearing of the financial backlog and to the smooth flow of funds in the future.

The General Assembly had been struggling for some years to develop measures to encourage the payment of arrears and the timely payment of assessed contributions.

The main financial problem remains the question of arrears, which has detrimental consequences for the reserves of the Organization.