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  • Publication Date: 12-2008
  • Content Type: Commentary and Analysis
  • Institution: Pal-Think For Strategic Studies
  • Abstract: Local banks in Gaza, under pressure from Israeli sanctions, are running out of cash and desperate Palestinians lined up at branches Monday hoping to pull money out of frozen accounts. But most banks have sharply curtailed withdrawals over the past two weeks and some have posted signs telling customers they cannot take out any more money. The U.N. stopped distributing cash handouts to Gaza’s poorest last week. Economists and bank officials are warning that tens of thousands of civil servants will not be able to cash paychecks next month. “No society can operate without money, but that’s the situation we are reaching in Gaza,” said economist Omar Shaban. The Israeli shekel is a widely used currency in the Gaza Strip, and the territory needs at least 400 million shekels, or about $100 million, each month in new currency to replace aging notes and to pay salaries
  • Topic: International Political Economy, International Affairs
  • Political Geography: Gaza