As nongovernmental organizations have come to understand, the economy never stands still.
From 2007 to 2009, for instance, the world saw a fiscal crisis that reduced government and donor spending on development aid budgets across the board.
Partly as a result of the financial turmoil engulfing much of Europe, the Swiss National Bank in 2011 set a fixed rate of 1.20 Swiss francs to a euro. Investors had flocked to the franc as a “safe haven,” leading to its value soaring. Many analysts feared that this would hurt the country’s export industry and — amid fears of hyperinflation — urged the SNB to take action.
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About the author
Aliyah Esmail
Aliyah Esmail is a freelance journalist and communications professional with a fascination for the economic and political realities facing nongovernmental organizations. She holds a bachelor’s degree from Carlton University in journalism and film studies and is now working on a postgraduate certificate from the Humanitarian and Conflict Response Institute in Global Health. She has worked for the government of Canada as well as a number of international organizations.
