[Ha'aretz] Ruth Sinai - Hundreds of charities and nonprofit groups in Israel that depend on funding from abroad fear that the continuing decline of the dollar exchange rate, combined with the growing U.S. economic crisis, will force them to dismiss employees and curtail the services they provide in education, welfare and health. Prof. Benjamin Gidron, the director of the Israeli Center for Third Sector Research at Ben-Gurion University, estimated that the dollar's 20% decline amounts to a loss of over NIS 1 billion for Israeli hospitals, universities and non-profit associations.
2008-03-19 01:00:00Full ArticleBACK Visit the Daily Alert Archive