Embassies Pay for Devalued Dollar ; Drastic Measures to Cut Costs
The Washington Times › March 22, 2008
Linked as:
Summary
The State Department is losing millions as a result of the free- falling dollar, forcing its overseas missions to lay off local staff, reduce energy consumption, put facility repairs on hold and cancel travel, officials said.
Although the dollar's weakness is affecting embassies and consulates around the world, the most drastic measures are being taken in Europe, where the euro has been trading around $1.54.See the full content of this document
Extract
Embassies Pay for Devalued Dollar ; Drastic Measures to Cut Costs
"It's beginning to hurt - there is no question about it. It's tough on us," said Christopher R. Hill, assistant secretary of state for East Asian and Pacific affairs.
Another official said that 24 percent of the State D...See the full content of this document
Sponsored links
