HT:WHO blames cuts on global finances, weak dollar
GENEVA — The head of the World Health Organization says it will have to make budget cuts because of less funding from wealthy donor nations and the U.S. dollar's broad weakness particularly against the Swiss franc.
WHO director-general Margaret Chan told reporters Tuesday that the drop in voluntary contributions is just part of the problem; the other part is that the WHO gets its funding in U.S. dollars, but pays its staff in Swiss francs.
The dollar has fallen to a record low against the Swiss franc, which is now worth about $1.13.
WHO previously said it expects a $300 million (euro212 million) deficit this year.
It has cut its bi-annual budget for 2012 and 2013 by about $1 billion and is expected to lay off 300 workers or about 12 percent of its Geneva-based staff.
