Overused Cash Crisis in Gaza: Navigating Banking Amidst War’s Aftermath

In the aftermath of the conflict, Israel enacted a measure restricting the inflow of physical currency into Gaza. As such, the money that was in circulation prior to the war remains the only cash available. Due to excessive usage, these notes are deteriorating rapidly.

Two close friends, one residing in Gaza and the other in Belgium, find themselves grappling with this unique predicament – attempting to transfer funds into Gaza.

The question arises: How does one deposit money into a bank account within Gaza’s borders? Furthermore, how can one withdraw funds under conditions where banks and ATMs are non-operational, electricity is scant, and internet connectivity is intermittent? In such an environment, the functionality of money in Gaza becomes a puzzle.

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This podcast episode was expertly hosted by Sarah Gonzalez. It was skillfully produced by Sam Yellowhorse Kesler. Editing responsibilities fell to Marianne McCune, while fact-checking duties were carried out by Sierra Juarez. The technical aspects of the production were mastered by Cena Loffredo, Robert Rodriguez, and James Willetts. Alex Goldmark serves as Planet Money’s executive producer.