UN in race to bankruptcy

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he United Nations is facing one of the most severe financial crises in its history, with officials warning the organization could run out of cash by mid-August.

Two of its largest contributors — the United States and China — have withheld billions of dollars in payments amid a broader struggle for influence over the global body, The Wall Street Journal reported over the weekend.

U.N. Secretary-General António Guterres has warned the organization is in a "race to bankruptcy," citing the "very real prospect of the financial collapse of our organization" as member states delay contributions and demand sweeping reforms.


The U.S. currently owes more than $4 billion in unpaid assessments and peacekeeping contributions, while China still owes $455 million despite transferring nearly $850 million to the organization this past week.

Together, Washington and Beijing account for 42% of the U.N.'s core funding.

The funding shortfall comes as the Trump administration continues to push for major changes at the U.N., arguing the organization has become bloated, inefficient, and resistant to reform.

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