The World Bank and IMF this past weekend warned that Gaza's severe cash shortage may cause local banks to collapse.It was the most serious warning yet regarding the consequences of Israel's continued refusal to allow new money infusions into banks in the Palestinian territory. Israel has not allowed money to enter Gaza since October, barring Palestinian banks from transferring cash to their Gaza branches. It is part of a larger blockade imposed on Gaza. The World Bank urged Israel on Saturday to allow cash into the Gaza Strip to pay the wages of civil servants, warning that the liquidity crisis could bring down the besieged territory's banking system.
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