by Moody Adams “For missionaries and faith-based relief groups, the weak dollar has been a major headache,” writes Bob Smietana. “It's caused them to cut back on budgets and cancel projects around the world.”
David Steverson, vice president of finance for the Southern Baptist Convention's International Mission Board, says the Lottie Moon Christmas offering is losing ground, “In 2006, that offering raised $150 million. This year's goal was $165 million. 'I told the board that if we meet that goal,'" he said, "we will have less buying power with $165 million than we did last year with $150 million."
The purchasing power of the dollar has fallen 20 percent in two years in Indonesia. Since 2002 it has dropped 35 percent in Europe.
American based ministries are cutting back on buildings, well digging, and missions around the globe.
The falling dollar is going to force U.S. missions to take a look at using DVDs to train native leaders and freeing missionaries to go to unreached fields. The DVD training in our Bible Skills Institutes is proving highly successful and economical.