The strong Swiss franc is adding to the problems of the Geneva-based World Health Organization (WHO), which is expecting a budget deficit of over a billion dollars in the next two years.
This content was published on
1 minute
swissinfo.ch and agencies
Three-quarters of WHO salaries are paid in francs while most states’ contributions are made in US dollars, which has been struggling against the Swiss currency. The body has therefore suggested its members pay at least half of their contributions in Swiss francs rather than in dollars.
One US dollar is currently worth 93 Swiss cents. Five years ago it was worth SFr1.1.
The WHO secretariat has put forward two currency options, according to the Swiss News Agency. The first, which it recommends for adoption, says that if states were to pay half their contributions in francs, this would reduce the predicted deficit from $1.2 billion to $700 million. It they paid entirely in francs, it would cut it to $200 million.
The impact of the strong franc has made itself felt elsewhere too. The WHO began a series of reforms two years ago. It already cut 350 of its 2,400 jobs in Geneva last year.
The executive council will discuss the new contributions proposal in January. If it is approved, it will go to the WHO general assembly in May. The new system would not come into force until 2014 at the earliest.
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Foreign currency reserves reach new high
This content was published on
The Swiss National Bank (SNB) said on Thursday it had SFr303.8 billion ($318.05 billion) worth of foreign currency in its vaults at the end of May. This is a 28 per cent increase from the SFr237.6 billion reserves it had in April. SNB spokeswoman Silvia Oppliger said the increase was largely related to the central’s…
This content was published on
A Greek exit from the euro and the spread of panic to other debt-ridden countries threatens to turn the franc once again into a magnet for foreign investors. Having successfully taken the franc off the list of global safe havens with its SFr1.20 exchange rate floor against the euro last September, the Swiss National Bank…
This content was published on
While some Swiss officials downplay the recent wave of cutbacks and job losses among several of the 32 international agencies based in the western Swiss city, local cantonal authorities are watching events closely. Many agencies are being stretched to breaking point due to financial pressures resulting from the recent economic crisis. Last week United Nations…
This content was published on
However since the beginning of the 21st century, the disease has been in decline. In 2000, malaria killed an estimated one million people – ten years later, that number was down to 655,000. But while in 11 African countries the decline is more than 50 per cent, specialists insist that progress remains fragile.
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.