The Fiscal Crisis Down Below

Confidentially, you're a fiscal fiasco.

Benin felt that the priorities of the United Nations should not suffer as a result of the financial crisis, which in reality was no more than a crisis of cash and of political will.

Japan s Fiscal Crisis Comes of Age

The Assistant High Commissioner also commented on UNHCR apos s critical financial situation, which has forced UNHCR to scale down some programmes and discontinue others.

That was one of the main reasons for the continuing financial crisis.

The current staffing situation was rooted in the financial crisis.

The financial crisis was a crisis of accumulated arrears, involving in particular countries with large assessed contributions, as was clear from reports on the financial situation.

So, Japan had a fiscal real estate crisis back in the late '80s.

Financial crisis of the Secretariat

The economic crisis and the constraints imposed by multilateral financial institutions drained social affairs, health and education budgets.

As was well known, UNHCR had been undergoing a financial crisis.

On financial reform, New Zealand is strongly concerned about the crisis facing the United Nations.

15. Adjusting the scale would not in itself be sufficient to settle the financial crisis of the Organization.

35. Because of the financial crisis facing the United Nations, it has become necessary to postpone a number of meetings.

A solution to the financial crisis afflicting the United Nations must also be found as rapidly as possible.

It was noted, however, that restructuring the budget was not going to solve the financial crisis.

Donor countries should honour their commitments and increase their contributions so that the Agency s financial crisis could be resolved.

For fiscal policy, the crisis showed the value of maintaining low public debt and deficits during good times countries with healthier public finances have more space to cushion the economic impact of crises. But the Great Recession has caused public debt and deficits in many advanced economies to soar.

44. As a result, IMF remains the only institution with the mandate to deal with international financial crises.

A fiscal crisis in the United States (owing to further political fights over the debt ceiling and another government shutdown).

Furthermore, the financial crisis of the Organization continues to impinge on the day to day operational capacity of the programme.

A special report of the Commissioner General on the financial crisis of the Agency was issued subsequently (A 51 495).

(b) That domestic commitment, fiscal and non fiscal resources hold primacy of place in crisis responses, but should not be an excuse for lack of international support

29. The deficit in the social benefits systems has also been an aggravating factor in the provincial governments apos public financial crisis.

The global financial crisis exposed the eurozone s underlying flaw. Meanwhile, international bodies, including the International Monetary Fund and the G 20, encouraged struggling countries to implement loose fiscal policies, claiming that they were needed to overcome the crisis.

There was also an urgent need to resolve the Organization apos s financial crisis, which was due mainly to the fact that some countries had failed to fulfil their financial obligations to the United Nations.

10. Hence, the Agency accorded the highest priority to resolving the financial crisis and placing its programmes on a sound financial footing.

Enhance the eurozone s internal financial circuit breakers to reduce the risk of disruptive financial feedback loops and destabilizing multiple equilibria and

It is clear that the reform of the United Nations can move forward only if the financial crisis of the Organization is settled.

The financial crisis facing the Organization had nothing to do with the existing scale of assessments it had arisen simply because some Member States had not paid what they owed.

Fiscal policy and institutions

military expenditures

Given their gravity and magnitude, the humanitarian crises of Africa merit more of our attention and our political and financial resources.

The Palestinian Authority's fiscal situation is also of immediate concern, and urgent action will be required before the end of the year to address the anticipated fiscal crisis.

In addition, the severe financial crisis besetting the Agency had continued to permeate every aspect of its work.

39. Ms. POWLES (New Zealand) said that her delegation was dismayed at the gravity of the financial crisis.

People say we should call it the fiscal slope, or we should call it an austerity crisis, but then other people say, no, that's even more partisan.

It was also emphasized that the recent financial crisis should be given priority attention in subprogramme 15.2, Development research and policy analysis.

Financial Mechanisms

The Agency was also gratified at the strong support provided by the Authority in efforts to overcome the Agency apos s financial crisis.

We're there in 20 years. We have lots and lots of time to avoid that crisis, and the fiscal cliff was just one more attempt at trying to force the two sides to resolve the crisis.

The financial crisis was, first and foremost, a payments crisis, so that the solution necessarily required payment of outstanding contributions to both the regular and peacekeeping budgets.

In fact, the Department initiated a reform process well before the financial crisis made downsizing an imperative.

34. Mr. PÁLIZ (Ecuador) said that the only obvious solution to the financial crisis was to ensure full payment of financial obligations, especially by the major contributors.