Statement at the Sixty-Sixth Ordinary Session of the Advisory Committee on Administrative, Budgetary and Financial Matters

"At the beginning of my statement, I provided a broad picture of the financial position of our Organisation obtaining at the opening of the 1997/98 Financial Year. I pointed out the positive development trend observed and the serious efforts made by some Member States to clear or reduce their outstanding arrears of contributions over the last consecutive years. In spite of these efforts, however, the situation of arrears and of regular payment of contributions to the Regular Budget still remains one of great concern for the Organisation. As of November 17,1997, the total amount of the outstanding unpaid contributions stood at $59,515,165 while out of a total amount of $29,940,000 assessed to Member States under the current financial Year 1997/98, only $7,066,053.76 has been paid by eight Member States only. Clearly, with 26% representing payment so far under the regular budget, the situation remains serious." - Dr. Salim, November 24, 1997