BARCELONA — Experts are warning NGOs to plan ahead and mitigate financial risk as the Brexit deadline, currently set for March 29, looms without a deal in place.
If politicians fail to agree on a withdrawal agreement before the United Kingdom leaves the European Union, the pound is almost certain to fall further, according to Alex Lawson, hedging director at Western Union Business Solutions, leaving NGOs exposed to volatile exchange rates.
“The expectation is that the pound would become less valuable in pretty much all currencies so that scenario would mean a negative outlook for NGOs” in most cases, he said, adding that while it’s difficult to know how long volatility could last, a year or more isn’t out of the question.