Haley Claims Credit for Cuts to UN Budget, Already in Decline
(Bloomberg) -- Nikki Haley, the U.S. ambassador to the United Nations, took credit for a five percent cut in the world body's two-year operating budget, saying she wouldn't let the generosity of American taxpayers go “unchecked.”
But she didn't mention one thing: the UN's budget had already been on a decline.
Haley, in a statement sent on Christmas Eve, said the U.S. negotiated $285 million of cuts to the UN's $5.4 billion general budget for 2017-2018. That compares to a $5.61 billion budget approved for 2016-2017, which was down from $5.8 billion for the previous two-year period.
“In addition to these significant cost savings, we reduced the UN's bloated management and support functions, bolstered support for key U.S. priorities throughout the world and instilled more discipline and accountability throughout the UN system,” the statement said.
The budget cuts were not related to last week's rebuke by the General Assembly of President Donald Trump's decision to move the American Embassy in Israel to Jerusalem. But after that 128-9 vote, Trump and Haley appeared to threaten funding to the global body.
Diplomats have been negotiating the UN's 2018-19 budget for months. UN Secretary General Antonio Guterres had spoken of the need for greater efficiency as part of his reform agenda since taking office about a year ago.
Whether the UN budget goes up or down, the organization's charter, written at the end of World War II, says the U.S. is responsible for 22 percent of the body's annual operating budget, or about $1.2 billion in 2017-2018.
Haley did signal that more cuts could be coming in the future, adding in her statement that "We'll continue to look at ways to increase the UN's efficiency while protecting our interests.”
To contact the reporter on this story: Kambiz Foroohar in New York at kforoohar@bloomberg.net.
To contact the editors responsible for this story: Bill Faries at wfaries@bloomberg.net, John Harney
©2017 Bloomberg L.P.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.