Oxfam warns on overseas aid schemes as post-Brexit sterling plunge hits finances

Oxfam warns on overseas aid schemes as post-Brexit sterling plunge hits finances
 

The organisation's finance director Alison Hopkinson told the Press Association that charities fundraising in sterling are seeing their purchasing power reduced in countries where local currencies are pegged to the US dollar.
"We have some choices to make. We can either reduce the number of hygiene kits or we can dig into our reserves, which are already stretched ... and that obviously puts us in a more financially precarious situation," she said.
Oxfam reported total income of £414.7 million last year, but Ms Hopkinson revealed that its purchasing power has been reduced by 10-12%... read more

 
6 October 2016 in Regional West, Views: 29
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