Missionaries struggle to stay afloat: Donations can't keep up as dollar's value declines

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Every month, Phil Davis receives a deposit of American money in his Czech bank account. And every month, he sees that deposit shrink.

Since the pastor and his family moved from Charlotte to Prague three years ago to start a church, the falling value of the U.S. dollar has brought home a sobering reality: The money they raised to support themselves and their work overseas does not go nearly as far as it once did.

The dollar's decline has stung most expatriates who are paid in U.S. funds, but missionaries serving internationally are particularly at risk. Many depend on money raised years before they left, when exchange rates were more favorable.

As a result, the Davises and fellow missionaries are facing tough financial questions: Should they move to a smaller house farther from those they're trying to reach? Where can they save on groceries? Can they raise enough money to stay?

Read the complete story here.

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The Charlotte Observer

The Charlotte Observer

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