Congo's Cash Crisis: Rebel Economy and Perforated Banknotes

The city of Bukavu in eastern Congo is grappling with a cash crisis worsened by rebel control, leaving many like Alain Mukumiro reliant on older, hole-punched banknotes. These patched notes circulate due to a shortage of new bills, leading to refusals by businesses and complicating trade.

Amid the insurgency, Congolese authorities shut banks, exacerbating the financial dilemma for citizens. Locals like Mukumiro find themselves unable to secure basic needs as financial transactions become increasingly complicated due to mistrust in the damaged currency circulating among residents.

Observers suspect the old notes, intended for destruction, were looted during the rebel occupation. The M23 group's control and governmental inaction in delivering solutions only deepen confusion in dealing with the fragmented economy, leaving lives in limbo.

(With inputs from agencies.)