ICESCO Faces Financial Challenges
The Islamic World Educational, Scientific and Cultural Organization (ICESCO), located in Rabat, is currently grappling with significant financial difficulties. As a result, the international organization has announced that it will only disburse half of the salaries owed for the month of August, with the possibility of extending this measure into September. This decision stems from ongoing financial tensions within the organization, as indicated in a note from its General Administration. ICESCO has pledged to make every effort to secure the necessary funds to pay the outstanding salaries "as soon as possible."
Member Contributions Under Scrutiny
According to the organization, the current international economic climate, characterized by financial upheaval, has also impacted international organizations. Additionally, the level of contributions from member states has been deemed insufficient to meet ICESCO's obligations and maintain its usual spending patterns. The organization is actively pursuing its member countries to recover overdue contributions and arrears. Improvement in financial inflows would allow ICESCO to gradually regularize the outstanding payments to its employees. Notably, the temporary salary reduction is just an initial step, as the organization plans to undertake a comprehensive review of its expenditure structure and human resources, looking closely at operational costs. This reorganization may affect certain positions and structures, along with various allowances and benefits provided to employees, aiming to cut expenses while retaining essential competencies needed for the organization’s operation. ICESCO is committed to a gradual approach to minimize the impact of these changes on its personnel and continues to engage with member states and partners to mobilize the necessary financial resources and safeguard its priority programs, hoping to restore a more stable budgetary situation in the future.
As reported by lebrief.ma.
