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A rebel-held Congolese city uses damaged banknotes due to a cash shortage
Banks have been closed since February due to conflict, forcing over 1.3 million Bukavu residents to use damaged banknotes, accepted inconsistently amid economic decline, officials said.
- Mukumiro, a resident of the rebel-controlled city of Bukavu, is using older, hole-punched banknotes patched up and put back into circulation due to a shortage of cash.
- The Rwanda-backed M23 rebel group captured Bukavu in February, and Congolese authorities closed the city's banks, leading to a shortage of cash in the region.
- The older bills are exchanged for new ones at a rate of about 10-to-1, and residents suspect they were stolen from bank buildings during the rebel takeover.
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13 Articles
Coverage Details
Total News Sources13
Leaning Left4Leaning Right5Center2Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
L 36%
C 18%
R 45%
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