LA 15/3
IN CONFIDENCE TO MEMBERS
OLC (1974)6
33
FOREIGN AND COMMONWEALTH OFFICE
OVERSEAS LABOUR CONSULTATIVE COMMITTEE
NINTH MEETING
ITEM 6: The International Labour Organisation
Financial situation
RE
18 DELI974
HKK 5/26.!
1. Since the Committee last met the ILO has been through a serious
financial crisis resulting from the refusal of the United States
Congress to appropriate the money for the US contribution in the
autumn of 1970. As the US contribution amounts to 25% of its
Regular Budget income the ILO was forced to make drastic economies.
These included the postponement of a large number of meetings and e
reduction in technical assistance financed from the Regular Budget.
The US Congress agreed however in 1972 to pay the arrears and the
US contribution has been regularly paid since that date.
Nevertheless since 1971 the fall in the rate of exchange of the
US dollar against the Swiss franc has imposed a further strain on the
Organisation. Contributions from member States are paid to the ILO
Inflation
in dollars while 70% of its expenditure is in Swiss francs.
and rising costs in Switzerland have also produced serious
difficulties. The maintenance of the existing level of activity
has required increasing expenditure in terms of US dollars.
2. The United Kingdom Government contribution to the ILO Budget
is set out in the table:
LAST ENTRY.
1
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17/12
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