Sunday, February 10, 2008

the impact of falling exchange rates on missionaries

From Jocelyn Green in Christianity Today, an interesting story about the intersection of economics, international finance, and missionary efforts overseas...

The dollar's falling value translates into a pay cut for many American missionaries, who receive funding for their work from church and denominational budgets and from the gifts of supporting Christians. According to the U.S. Center for World Mission, many are finding their dollars worth 8 to 12 percent less than they expected this year. In Europe, dollars have lost 45 percent of their buying power since 2002....

It's not that donors aren't giving. From 2001 to 2005, there was a 6 percent annual increase in overseas ministry income reported by 700 U.S. Protestant mission agencies, after adjusting for inflation. But the dollar's steady drop in value far outstrips the increase in support....

1 Comments:

At February 17, 2008 at 12:39 PM , Blogger Bryce Raley said...

This has a big affect of our Sweden mission trip each July.

The Swedes love to come here for short stays, and they love to shop of course due to the great exchange rate for them.

 

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