The effect of continuing currency instability on the budgets of organizations within the United Nations system

3360. The effect of continuing currency instability on the budgets of organizations within the United Nations system

The General Assembly, Bearing in mind the provisions of Article 17 of the Charter of the United Nations,

1. Notes with appreciation the report of the Working Group on Currency Instability,[1] which, in accordance with its terms of reference, considered alternative solutions to the difficulties resulting from the effect of currency instability and inflation on the budgets of organizations in the United Nations system;

2. Notes further the statement by the Administrative Committee on Co-ordination;[2]

3. Notes, in particular, the statement of the Working Group in paragraph 10 of its report that currency fluctuations and inflationary pressures were likely to continue and that there would probably be no early return to fixed values;

4. Notes that the Working Group found no generally agreed alternatives to policies already being utilized in the United Nations and related agencies;

5. Takes particular note of the statement of the representative of the Secretary-General, contained in paragraph 7 of the report of the Working Group, which stressed that payment by Member States in accordance with the Financial Regulations of the United Nations and the elimination of the short-term deficit of the Organization would resolve many of the currency problems faced by the United Nations, and, in turn, obviate in large measure the need for solutions;

6. Requests the Secretary-General, in consultation with the other members of the Administrative Committee on Co-ordination, to keep these problems under review, taking into account the report of the Working Group, the views expressed during the consideration of the item during the twenty-ninth session, and other views that may be expressed by or received from Member States, and to report to the General Assembly at its thirtieth session;

7. Further requests the Secretary-General, in keeping these problems under review, to ensure that the programmes and activities concerning the developing countries are not adversely affected.

2325th plenary meeting
18 December 1974

[1] A/9773. [2] A/C.5/1622, annex.

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