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Finances - ICRC Annual Report
31-12-2010 Annual Report No 2010
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The 2010 financial exercise most probably marked the end of a 10-year cycle during which the ICRC was able to rely on substantial donor funding to meet the most pressing needs for humanitar-ian action. Several factors led to the largest consolidated deficit (KCHF -84,286) in more than a decade.
The overall reduction of donor funding capacity stemming from the lasting effects of financial crisis combined with the largest ever field expenditure level (KCHF 999,492) left the ICRC with an exceptionally high field deficit of KCHF -84,021. In addition, currency market vola-tility resulted in an accounting loss related to foreign-exchange rate fluctuations of KCHF -32,337. Amid this upheaval, the ICRC focused on ensuring that the funds provided by its donors would not in any way be put at risk by using the headquarters excess to cover the foreign exchange loss. Regarding the field, to avoid jeop-ardizing its operational capacity, the ICRC sensibly committed some of its reserves to reducing the field deficit while preserving its capacity to face future risks and turmoil. From a financial and economic perspective, 2010 weakened the ICRC; developments in 2011 will be closely monitored with a view to preventing a similarly unsustainable result.
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