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.

Yet now the situation seems to be coming to a head.

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.

Obama so far seems unable to break this fiscal logjam.

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

It is raining heavily on the capital Riyadh at the moment, and the situation looks disastrous.

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

Indeed, the sub prime crisis has made the European financial system look just as vulnerable as that of the US.

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

The size of France s political crisis seems to be out of proportion with the country s real situation.

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.

But, when it comes to the MFF, Europe s national leaders appear not to be listening closely.

But this looks a lot like Japan, where the fiscal tap was tentatively opened and closed.

And, while Tunisia s situation seems to be the most promising, a crippling investment shortfall is threatening to derail reform efforts there.

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.

Today, markets seem to think that large fiscal deficits are the greatest threat to government solvency.

Unfortunately, the size of the EFSF looks inadequate to finance a collective exit by short term investors.

Taking the dangerous global security situation into account, one should assume that the appropriate international response would be to enhance joint efforts to address the problems.

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.

But there do seem to be an uncomfortable number of similarities between the political economy of cyberspace regulation and of financial regulation.

In doing so, officials are reluctant to take into account that the recent crisis resulted from an unprecedented credit boom gone bust.

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.

So let s remind ourselves how compelling the logic of the financial innovation that led us to our current predicament seemed not too long ago.

In this context, the idea of a peace settlement with the Palestinians seems more abstract than ever. Indeed, it makes the current status quo seem comfortable.

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.

Gridlock, too, implies a choice 160 one that ensures that some version of the status quo will be the outcome. What would that look like?