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The U.S. Owes UNESCO Half A Billion Dollars

Zero Hedge Monday, 16 October 2017
The U.S. Owes UNESCO Half A Billion DollarsThis week, the U.S. and Israel announced that they would be withdrawing from UNESCO, *citing 'continuing anti-Israel bias'.*

As Statista's Niall McCarthy notes, the move comes as a major blow to the organization which is *known for designating cultural sites around the world such as the Grand Canyon or ancient Palmyra in Syria*.

The U.S. has been expected to pay the bulk of UNESCO's budget for years and* it cancelled its financial contributions back in 2011 in protest of Palestine's admission as a full member.*

In the years since, it has amassed significant arrears of over $500 million...

You will find more statistics at Statista

*This year, the UK, Japan and Brazil have all failed to pay their contributions so far, *accrueing nearly $70 million of arrears between them.

*This isn't the first time the U.S. has turned its back on UNESCO. *

The country also left the organization under Ronald Reagan in the 1980s before rejoining under George W. Bush in 2003.

*The latest withdrawal will come into effect at the very end of 2018.*
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