While we each deal with the rise in fuel costs, our brothers and sisters who are missionaries serving outside of the US are dealing with more difficult financial reality. As the dollar drops in value in relation to other world currencies, missionaries who depend on raising their support from US sources are finding their income diminish.
An article in the Charlotte Observer describes this dilemma.
Every month, Phil Davis receives a deposit of American money in his Czech bank account. And every month, he sees that deposit shrink.
Since the pastor and his family moved from Charlotte to Prague three years ago to start a church, the falling value of the U.S. dollar has brought home a sobering reality: The money they raised to support themselves and their work overseas does not go nearly as far as it once did.
The dollar's decline has stung most expatriates who are paid in U.S. funds, but missionaries serving internationally are particularly at risk. Many depend on money raised years before they left, when exchange rates were more favorable.
Read the whole article. It raises a question I have yet heard discuss by any blog or church event where I've been. Of course, I don't think this dilemma is limited to missionaries. But they are more vulnerable because they live on a fix income that is shrinking.
I see the problem as two fold.
The falling dollar against foreign currency means that local products are more expensive.
The rising local cost of food, transportation, and power means that there are really two price increases going on, the second being related to normal or excessive inflation.
If potatoes were .30 a # locally, needing .25 UDS, the falling USD takes .30 USD to make up for it.
But if potatoes go to .50 #locally, you need .50 USD, not just .30 when you started.
The net effect for missionaries is a double price increase.
Pastor Chris
EvangelismCoach.org
Posted by: EvangelismCoach | May 09, 2008 at 04:07 PM