UN's financial crisis real, we need a solution that works: India

India, which is owed USD 38 million by the United Nations for peacekeeping operations, has called for a comprehensive solution to address the 'real' financial crisis facing the world body, saying countries that owe arrears are 'insured' from the impact of their inaction.

The UN's peacekeeping financial year is ending on June 30 and member states are yet to pay USD 1.9 billion worth of assessments for peacekeeping budget and USD 1.5 billion worth of assessments for the Regular Budget, India's Deputy Permanent Representative to the UN Ambassador K. Nagaraj Naidu said at a session on 'Improving the Financial Situation of the United Nations.'

Naidu said many Troop Contributing Countries (TCCs), including India, are awaiting for "long, legitimate reimbursements" from the closed peacekeeping missions.

"Our expectation is that the problem be discussed and addressed comprehensively, he said.

The UN owes India USD 38 million, among the highest it has to pay to any country, for peacekeeping operations as of March 2019, UN Secretary General Antonio Guterres had said in his report on improving the financial situation of the UN released in April.