Region | Palestinian Territories

Currency shortage in Gaza threatens Palestinians' salaries

Banks in the Gaza Strip are facing a currency shortage that may prevent Palestinian public workers from getting their salaries, officials said on Tuesday.

  • Agencies
  • Published: 15:30 August 5, 2008
  • Gulf News

Ramallah: Banks in the Gaza Strip are facing a currency shortage that may prevent Palestinian public workers from getting their salaries, officials said on Tuesday.

Palestinian Prime Minister Salam Fayyad plans to pay salaries on Thursday, but officials said Israel has yet to allow banks to bring $28 million into the Gaza Strip.

Officials said that without a cash infusion, banks in the territory may not have enough cash to cover workers' withdrawals from ATM machines.

Palestinian and Western officials said the United States and the European Union have intervened with Israel, seeking approval to allow money into the Gaza Strip.

Palestinian officials say Israel has yet to say whether it will allow the cash into the Gaza Strip in time. Israeli officials had no immediate comment.

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