UNGA approves key budget reform, Guterres hails move to safeguard financial stability

UN Secretary-General Antonio Guterres recently welcomed the General Assembly's decision on unspent budget funds.

"I welcome today's (Tuesday's) decision by the General Assembly to reform financial rules that were putting the Organization's stability at risk. By its vote, the Assembly has agreed to introduce, for a four-year trial period, a new methodology to ensure that unspent funds are returned to Member States only when they are backed by cash," said Guterres in a statement.

Under a financial rule, the world body has to return unspent appropriations as credits to member states at the end of each budget period, including those in arrears. The General Assembly decision on Tuesday modifies the rule, Xinhua news agency reported.

"This decision will allow us to manage resources, especially for regular and peacekeeping budgets, in a more predictable and responsible way, and to better deliver on the mandates given by Member States," said Guterres.

Noting that he has called for this change since the beginning of his mandate, Guterres said the change is critical for the world body's immediate operational continuity, especially for peacekeeping operations.

"Since very early in my mandate, I have called for this change, and I am grateful to Member States for taking this important step."

"This important change will greatly benefit my successor, who will no longer be hamstrung by being forced to return funds that were, all too often, never even received in the first place," said Guterres, whose term of office expires at the end of this year.

The UN chief thanked those member states that have paid their assessed contributions, and renewed his call on all states to meet their obligations under the UN Charter.

"Except for the headline, no changes have been made to the story, as it has been sourced from IANS."