Cash and Crises

After exceptional growth during the Covid-19 pandemic, global cash demand was negatively impacted by the return of inflation in 2022. Early figures for 2024, indicate that demand is picking up. As central banks vigorously tackle inflation, the precautionary demand for banknotes in the increasingly uncertain world will likely grow. .

Elsewhere on the Web provides updates and links to articles related to cash, money and payments curated on the web.

Most Palestinians remain unbanked despite the Palestinian Monetary Authority’s efforts to promote digital payments. Cash withdrawals are the biggest component of e-wallet transactions in the West Bank and Gaza.

In October, Hurricane Otis caused widespread devastation in the Pacific port of Acapulco. Mexican authorities and banks launched an effective plan to restore cash access.

Cash prevails in the Palestinian economy in the form of Israeli shekels. Cross-border payments are unstable. Cash transfers will have a limited impact without humanitarian supplies to help displaced Gazans.

In August, wildfires caused widespread devastation, electricity, and connectivity outages on the Hawaiian island of Maui. Cash was crucial in providing aid to survivors.

Cash in circulation in Russia has expanded dramatically since the Ukraine invasion. In June 2023, the demand for rubles and foreign cash spiked as Wagner forces approached Moscow.

The Reserve Bank of New Zealand and payments sector incumbents worked to reestablish cash services after cyclone Gabrielle hit the North Island in February.

What does an A.I. chatbot have to say (in essay and poem form) about the relevance of cash in contemporary societies?

Cash helps civilians and refugees best during the Russian invasion of Ukraine.

From pandemic to war, 2022 faced more than its fair share of shocks, demonstrating the essential role of cash for resilient monetary systems. More countries issued regulations to ensure future access to cash.

A massive winter storm caused widespread power outages across the United States. Cash demonstrated its resilience during the blizzard in the worst-affected Buffalo area.