The better than expected cash position resulted from additional voluntary contributions received, interest income earned, savings on prior period obligations as well as delays in the liquidation of current period obligations.

The debt situation has also improved.

Cancellations of prior years' obligations amounted to 17.5 million or 20 per cent of prior years' unliquidated obligations in 2004, compared to 18 million or 23 percent in 2003, and 13.1 million or 17 per cent in 2002.

The increase in 2003 compared to 2002 was due primarily to the significant increase in the supplementary programme budget.

Management continues to pay close attention to the amounts recorded as unliquidated obligations throughout the year.

Management systems renewal project (MSRP)

This integration of information systems is a major step towards the availability of on line real time financial and related management information.

Debt situation of the developing countries as of mid 1998

The debt indicators show what would be expected to be a sustainable debt position.1 The debt service ratio measured 13 per cent, the debt stock to exports ratio 114 per cent, the debt stock to GNP ratio 31 per cent, and short term debt to foreign exchange reserves ratio 53 per cent as noted, however, those figures obscure diverse trends at the country level.

While the international strategy for improving the debt situation had helped many countries regain access to external financing, the debt situation of the poorest countries remained critical.

Those overall trends, while indicating a somewhat improved debt position of developing and transition countries in 1997, mask a continued overhang of debt in many African countries.

Financial performance of the Convention in the biennium 1996 1997

The long term financial situation of UNDCP remains, however, a matter of concern.

There had been continued improvement in the overall debt situation, with the exception of the poorest, most heavily indebted countries.

3 failure to discharge due liability or

INDRA will provide that service only if creditors extend maturities of firms short term debt into loans with maturities of between one and four years.

However, because of improved economic performance in the debtor countries, the overall ratio of debt to exports and the ratio of external debt to gross domestic product had declined to their lowest levels since the onset of the debt crisis.

Even for those benefiting from the HIPC Initiative, the economic conditions on which their debt relief was based have considerably worsened, and several countries, including those few that received debt relief, have backtracked into further unsustainable debt.

The non expendable property, disclosed in Note 11 to the financial statements, was owned by the organisation and was free from any charge.

There was also a need to consider the situation of debt distressed non HIPC low income countries as well.

In such a situation, the only option available for the Government was to seek debt restructuring to alleviate the debt burden or to have short term cash flow relief.

Financial performance of the Convention in the biennium 1996 1997 31

The financial statements present fairly the financial position as at the end of the period and the results of the operations for the period

Article 24 The Company shall present the ending balance, beginning balance and percentage increase or decrease of the following financial status indicators asset liability ratio, net asset liability ratio and liquidity ratio in tabular form.

Article 75 The Company shall present the ending balance, beginning balance (prior year) and percentage increase or decrease of the following financial status indicators in tabular form asset liability ratio, net asset liability ratio and liquidity ratio.

Troop liabilities will be reviewed on a quarterly basis and paid on the basis of each mission's cash position.

(a) Report of the Secretary General on the debt situation of the developing countries as of mid 1998 (A 53 373)

The financial situation was disastrous.

Financial position

Even with that additional support and the measures taken, the Agency only narrowly averted insolvency during the fiscal year 1997, ending the year with the fifth consecutive year end deficit in its approved budget, as well as depleted cash and working capital reserves.

16. Stresses the need to significantly address the debt problems of middle income developing countries, and in this regard stresses the importance of the Evian approach of the Paris Club as a practical means to address this issue, and notes that the current debt sustainability framework used to analyse the debt situation of middle income countries focuses mostly on medium term debt dynamics

PROPOSED REVISED BUDGET AND FINANCIAL SITUATION FOR THE BIENNIUM 1996 1997 25 77 11

FOR THE BIENNIUM 1996 1997

It provides regular financial performance and status information to UNIDO stakeholders.

A. Financial status 138 144 24

B. Financial status 124 129 22

87. In his view, the external debt problem should be addressed on a case by case basis, taking into account the situation of both debtors and creditors.

In 2011, FFP shifted from focusing on clubs' debts to monitoring their losses instead.

Article 45 The Company shall analyze the fluidity situation of assets and liabilities during the reporting period, including its major financing channels, short term and long term liability composition, measures taken for maintaining the fluidity level and corresponding management policies and financing ability, contingent issues and their impact on the financial status of the Company.

7. Emphasizes the great importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries since debt financing and relief can be an important source of capital for economic growth and development, and also emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

Emphasizes the great importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries since debt financing and relief can be an important source of capital for economic growth and development, and also emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

Emphasizes the high importance of a timely, effective, comprehensive and durable solution to the debt problems of developing countries, since debt financing and relief can be an important source of capital for economic growth and development, and emphasizes that creditors and debtors must share responsibilities for preventing unsustainable debt situations

Specific measures shall be formulated by the securities regulatory agency under the State Council.

(ii) An analysis of the financial situation of the Organization at the close of the fiscal period

24. It is the accumulation of arrears, moreover, that is the fundamental problem underlying SSA apos s debt overhang.