Magazine article UN Chronicle

UNIDO Board Defers Decision on Financial Crisis

Magazine article UN Chronicle

UNIDO Board Defers Decision on Financial Crisis

Article excerpt

UNIDO Board defers decision on financial crisis

A decision on how to cover a $33million deficit in the budget of the United Nations Industrial Development Organization (UNIDO), will be taken at the June 1987 session of the Organization's Industrial Development Board (IDB), it was decided at the March 1987 session of the UNIDO board.

UNIDO Member States also urgedall States that had not paid in full their assessed contributions, and advances to a Working Capital fund for 1986 and 1987, to do so without delay. It recommended to its General Conference, scheduled to meet in November in Bangkok, that measures including supplementary estimates, be taken to cover net exchange-rate losses for the biennium.

A special account would be establishedto allow Member States that are in a position to do so to make voluntary advance payments to cover exchange-rate losses for the fiscal period 1986-1987 until the General Conference makes a final decision on the issue.

UNIDO Director-GeneralDomingo L. …

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