Downturn to Cost Billions in Aid to World's Poor

POUND'S WEAKNESS
British charities working overseas say the most harmful effect of the crisis so far has been the weakness of the pound. The CAFOD agency estimates the dollar value of British government aid may fall by as much as $41 billion between 2008 and 2014.

Groups funded by CAFOD in developing countries have already seen the dollar value of their sterling grants drop 25 to 30 percent compared with the middle of last year. "We're basically passing on the pain to our partners with profound apologies," said policy adviser George Gelber.