US to Pay $725m Towards $4bn UN Debt
The payment, less than 20% of the total owed, comes as the UN faces 'imminent financial collapse' due to unpaid contributions from member states, including the US
The United States plans to pay $725 million towards its large debt to the United Nations, according to a congressional notification. This payment would be less than 20% of the more than $4 billion owed by the US to the UN.
The US is the biggest contributor to the UN budget, but has refused to make mandatory payments to regular and peacekeeping budgets under the Trump administration. The payment of $725 million is set to go through before an expected speech by Donald Trump to the UN General Assembly in New York in September.
The UN has been facing a severe financial crisis due to unpaid contributions from member states, with Secretary-General Antonio Guterres warning of 'imminent financial collapse' earlier this year. The US has withdrawn from dozens of UN and other international agencies, and has demanded sweeping reforms in exchange for continued support.
The payment of $725 million would help to pay UN salaries for a period, but might not cover them all. If the US does not make further payments, it will likely lose its voting rights in January, according to Eugene Chen, a former UN official. Under article 19 of the UN Charter, a member state loses its voting rights in the General Assembly if its arrears exceed two years in annual fees.
## Why it matters The US payment towards its UN debt is a significant development, as the UN faces a severe financial crisis. The organization has had to implement large budget cuts due to unpaid contributions from member states. The payment of $725 million is a welcome step towards paying billions in dues owed, but the US may still lose its voting rights in January if further payments are not made.
The stakes are high, as the UN plays a critical role in promoting peace, security, and cooperation among nations. The financial crisis facing the organization could have significant consequences for its ability to carry out its mandate. The US, as the largest contributor to the UN budget, has a critical role to play in ensuring the organization's financial stability.
## What happens next The payment of $725 million is expected to go through before Donald Trump's speech to the UN General Assembly in September. The US will need to make further payments to avoid losing its voting rights in January. The UN will continue to face significant financial challenges, and will need to find ways to address the crisis and ensure its long-term stability.
