Gaza's Cash Crisis: The Lifeline Turned Chokehold
Gaza is grappling with a severe cash shortage exacerbated by war, inflation, and unemployment. With banks inoperative, civilians rely on cash brokers who charge exorbitant commissions. Many families have resorted to selling possessions for essentials, as Israeli-supplied shekels become scarce and bills lose their value.
In the Gaza Strip, cash is proving to be both an essential lifeline and a financial chokehold. As war bites into every corner of life, the territory's critical cash supply is thinning, pushing families to the edge of survival.
With banking systems down and ATMs empty, residents are turning to a network of cash brokers who charge fees as high as 40% on transactions, leaving families choosing between daily needs and dwindling savings. Some have even taken to selling their belongings just to afford basic commodities.
The escalating crisis sees Israeli shekels, the primary currency, becoming frayed and rejected by merchants, further complicating economic transactions in the area and amplifying the humanitarian distress.
(With inputs from agencies.)
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- Gaza
- economy
- cash
- brokers
- shortage
- inflation
- unemployment
- shekels
- crisis
- commissions
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