UN chief wanted to sell NY house to help ‘critical’ budget crisis, Latest World News - The New Paper

UN chief wanted to sell NY house to help ‘critical’ budget crisis

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UNITED NATIONS : United Nations chief Antonio Guterres said on Tuesday that he considered selling his townhouse to help overcome UN's budget crisis.

Mr Guterres put forward proposals to address a US$1.5 billion (S$2 billion) shortfall in the UN peacekeeping budget and a US$492 million hole in its regular budget from unpaid contributions by member states.

"The first thing I did when I arrived was to ask if I could sell the residence," said Mr Guterres.

The UN chief's residence in midtown Manhattan is estimated to be worth tens of millions of dollars.

However, he quickly discovered that he did not have the authority to sell the residence under UN agreements with the United States.

Mr Guterres described UN finances as "critical".

The US, which is the top financial contributor to UN peacekeeping, also owes the biggest amount at US$852 million, followed by Brazil, Japan, Venezuela, Saudi Arabia and Argentina. - AFP