Swiss francs and NGOs: An unappreciated appreciation

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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