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The World

The United Nations faces its most serious financial crisis ever, with debts projected to reach $275 million by the end of the year, a sum greater than the organization’s combined reserves, Secretary General Javier Perez de Cuellar said. Contributing to the group’s financial difficulties were a U.S. decision to withhold funding in compliance with congressional budget-cutting bills and the failure of several other members to pay substantial arrears. The secretary general proposed sharp cuts in U.N. activities, including a three-week reduction in the duration of the annual session of the General Assembly.


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