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External sources (not reviewed)

[...] [...] highest share of remittances flowing through [...]

The Department of Internal Oversight Services noted that the Syrian Arab Republic field office should take the lead with Treasury to take the necessary steps to ensure that there were no exchange losses and that proper hedging procedures were followed to avoid such losses.

All exchange gains or losses arising from transactions and revaluation of non-euro assets and liabilities are recorded as currency exchange adjustment under other income.

[...] [...] forecasting and control of exchange risk.

[...] [...] balances as gains or losses on exchange.

(c) Other supplies, services and equipment, in the amount of $230,400, attributable to increased expenditure for freight charges ($99,200), mainly due to the shipment of seven armoured personnel carriers from the United Nations Logistics Base at Brindisi, Italy, and the United Nations Interim Administration Mission in Kosovo; the acquisition of personal passive protection gear for military contingent personnel in the light of the prevailing security situation, which, the Advisory Committee was informed, was undertaken with the assistance of the United Nations Logistics Base ($86,400); as well as loss on exchange ($79,600) experienced in the performance period (ibid., para. 31).

Cash and travellers cheques can be exchanged in licensed exchange offices and international hotels.

Rising domestic rice prices would lead to temporary bans on exports, and fluctuations of the black market exchange rate were dealt with by detaining money-changers or clumsy interventions that led to rapid and unpredictable shifts in the unofficial rate.

Traders Hotel, Yangon, recommends that cash and travellers cheques be exchanged in licensed exchange offices and international hotels.

The Organization’s accounting treatment for exchange gains and losses both prior to and after the implementation of the split assessment arrangement has been to calculate and transfer all foreign exchange related gains and losses to the SRA, consistent with the general direction provided by the related SRA Conference Resolutions.

The Board believes that this information is of value to the users of the accounts, as it quantifies some of the financial impact of delays in the fulfilments of pledges, as exchange losses represent resources expected by the MLF but not received.

[...] mitigate exchange rate risks, and request the Treasurer to report to the Committee follow-up action by UNEP to mitigate exchange rate risks.

The Finance Committee is also requested to note the proposal to restore the Special Reserve Account to its cash-backed value and to cease transferring foreign exchange differences arising on Euro transactions to the Special Reserve Account.

The following observations may be made on the basis of the file: non-compliance with the purpose of the contract since payment covered travel outside Cape Town (including a trip to Tunis by a UNEP official), absence of supporting documents (document not signed by the hotel in which the workshop concerned was held), inconsistencies in the calculation of daily subsistence allowances, and “miscellaneous expenses” category (currency exchange and other) not supported by any documents in the financial report.

These would cover items like term loans, leasing and industrial hire-purchase for asset acquisitions or business expansions; overdrafts, revolving credit facilities and factoring for working capital; letters of credit (LC), trust receipts, banker’s acceptance (BA) and Export Credit Refinancing (ECR) for trade financing; and bank guarantee as well as shipping guarantee facilities.

[...] [...] Member States against payment in non-convertible [...] [...]

At its sixty-third session, the General Assembly adopted the political declaration on Africa’s development needs, in which it requested the formulation, by the sixty-fifth session of the Assembly, of a mechanism to review the full and timely implementation of all commitments related to Africa’s development, building on existing mechanisms, to ensure that Member States remained seized of the issue of addressing Africa’s special development needs (resolution 63/1).

[...] [...] State capital of Sittwe, and parallel road, [...] [...]

As documented by the Group, in 2009 Serge Mel Meledje was appointed Managing Director of Darkwood Logistics and UAZ-CI (see annex 21); however, Mr. Meledje’s real role was to cash cheques issued by the Treasury, keeping a personal commission of 0.05 to 0.08 per cent of the amount of the cheques (see annex 22).