The Straits Times
www.straitstimes.com
Published on Dec 26, 2012
 

China and emerging powers to pay more for UN

 
 

UNITED NATIONS (AFP) - China, Brazil, India and other emerging powers agreed to major increases in their United Nations payments as the global body hammered out a new budget deal this week to avoid its own fiscal cliff.

The boom countries will pay more as economic crisis allows European nations, such as Britain, Germany and France and Japan to cut their contributions.

While the sums involved are not huge by global standards - the revised UN budget for 2012-2013 is US$5.4 billion (S$6.6 billion) - diplomats say the new shareout is a snapshot of the world's changing economic fortunes.

And the UN system has maintained sum of its quirks with Greece, despite its economic slump, still paying more than India, which aspires to become a permanent member of the UN Security Council.