Residents of Bukavu are struggling with damaged banknotes amid rebel control.

Bukavu

In Bukavu, eastern Democratic Republic of the Congo, residents are experiencing significant difficulties due to a shortage of usable banknotes after the M23 rebel group took control of the region. Many shopkeepers refuse to accept damaged currency, forcing people to exchange notes at a loss with local money changers. The closure of city banks by authorities has led to increased circulation of old, torn notes, causing confusion and hardship for both buyers and sellers.

Attempts to address the issue, such as opening a bank for exchanging damaged notes, have been overwhelmed by demand and subsequently suspended. With limited cash flow from the government and ongoing instability, daily life for Bukavu residents remains severely disrupted, leaving many struggling to provide for their families.

Bukavu residents struggle with damaged banknotes

In Bukavu, eastern Congo, tension is rising as residents struggle to cope with a shortage of usable banknotes following the takeover by the M23 rebel group in February. Ale Mukumiro, a fridge technician, expressed his frustration, saying shopkeepers refuse damaged money despite it being exchanged with local money changers for small amounts. I came to buy the tools I will use to repair filters and rods but they refuse the money on the pretext that it is damaged or my money has numbers but they refuse it because it has been glued together and especially these perforated bills that they have punched holes in and patched back together they refuse all these bills and yet I just exchange them with money changers on the road. Since the city banks were closed by authorities many people have resorted to using old torn notes causing confusion among buyers and sellers. We take this money in exchange for small amounts these perforated bills for 20,000 Congolese francs we give the owners 5,000 and 5,000 Congolese francs to 500. The M23 takeover in the region has destabilized the governance and control by the authorities while also disrupting business flow. David Yanga, an economics professor, argued that these damaged banknotes should be accepted as valid currency given the lack of cash flow from the government. We are virtually cut off from the world as far as the part of the government that actually has the power to print money is actually concerned. While the M23's governor recently opened a bank for exchanging damaged notes for new ones the overwhelming demand led to a suspension of operations with the humanitarian crisis worsening and daily lives disrupted. Residents like Mukomira are left struggling to feed their families amidst the chaos.

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