The UN Risks Running Out of Money by August

The United Nations organization has found itself on the brink of a financial collapse, reports The Wall Street Journal. According to the publication, the two largest sponsors of the organization, the US and China, have reduced their contributions, which account for about 42% of the UN's basic budget. Currently, the US owes the UN over $4 billion: the US demands that the UN take measures to reduce China's influence on the organization, in particular, China's ability to use UN structures to promote its international initiatives.

China owes the UN about $450 million. It does not formally refuse to pay, but payments are often delayed.

The Wall Street Journal reports that with the current situation, the UN will only have enough cash until mid-August.

According to UN Secretary-General António Guterres, the funding shortfall has already led to the reduction of about three thousand positions in the secretariat, office closures, cuts to translation services, and peacekeeping operations.

Overall, it must be acknowledged that the UN has long ceased to fulfill its key function of preventing international conflicts and establishing the so-called "rules-based order." Essentially, today the UN is largely just a fiction and a form without substance, and it’s not entirely clear why money should be spent on it.

This is how even the most powerful institutions once were, alas🤷‍♀️

It’s interesting to consider what might come next?
Do you think an organization like the UN is necessary, or should it be changed? 👇🤝