> Banks are running low on cash to issue to people, leading them to place strict limits on the amount of money people can withdraw.
I interpret “running low on cash” as physical notes. This does not imply any restriction on transactions, or does it? It’s a genuine question.
Note: on the topic of expectations, I’ll quote from HN guidelines available at the bottom of the page: “ Please don't comment on whether someone read an article.”
Furthermore, SWIFT is not entirely blocked, it is just prohibitively complex and expensive for ordinary people now.
No, they are really not, as the article sticks to using the term withdrawing, regarding what's being restricted. Generally it's expected that you read things before correcting others here.
That said, and to answer the grandparent, transfers are probably also restricted, it's not just about limits on withdrawing cash. Or they need to pay in cash, because all accounts are frozen transfers-wise - so, even if they could just make do with transfers internally, they can't use them to pay any foreign imports/services/etc.
(to be fair, all money is fake but only governments have the power to enforce the value of their fake money)
But, does it matter? If people inside Lebanon could still transact with the "fake" amounts with bank wires and card payments and whatnot, the illusion would work as long as no interaction with the external world (International wires, and cash transactions)