U.S. Dollars Allow NGOs to Do More with Less in Lebanon as Economic Crisis Worsens

Photo courtesy of Triumphant Mercy Lebanon

Cryptocurrency is gaining traction as Lebanon’s economic crisis worsens. Shops of all sizes increasingly began accepting bitcoin payments over the last year, Arabian Business reports.

Lebanon’s financial crisis creates an unexpected opportunity for Christian ministries.

“[Non-government organizations] are able to exchange dollar(s) at a high rate. This enables us to do much more than before,” explains Nuna*, Executive Director of Triumphant Mercy Lebanon.

Today, the Lebanese pound is worth less than a United States penny, the lowest U.S. monetary unit. This means every donated dollar goes even farther to help people in need.

“NGOs are funded mainly by international communities, so they’re not funded from inside Lebanon. This means they can bring in some ‘fresh’ dollars; [in other words,] the dollar that is not existing in the country, but coming from anywhere in the world,” Nuna says.

“The value of the dollar is so high that when I use $1, I can do seven to eight times more than I used to do before.”

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SOURCE: Mission Network News, Katey Hearth


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