Cash in a conflict
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 11 May 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
How does day-to-day survival work in a war when cash and food are in short supply? Rahul Tandon speaks to a woman in Russian-occupied Kherson where the rouble has just been introduced as an official currency. He also hears from Zaporizhzhia entrepreneur Vitali Ivakhov about how he's keeping his businesses going, and paying wages.
A survivor of Mariupol explains how day-to-day life continued during the siege, and Bosnian journalist Aida Cerkez talks about her personal experience of the siege of Sarajevo - the longest in modern times.
Former Ukrainian finance minister Natalie Jaresko tells us about the crucial role digital payments have played, and how frozen Russian assets must be used to help pay for the rebuilding of Ukraine.
Presenter: Rahul Tandon Producer: James Graham Photo: Five hryvnia notes (Credit: Getty Images)
Transcript
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| 0:00.0 | Hello, I'm Rahul Tand, and welcome to Business Daily here on the BBC. Today, cash, what happens when conflict means the cash just stops flowing in normal ways? How do you run a business, pay staff and even pay for those day-to-day basics? |
| 0:15.8 | Imagine a world where money doesn't mean very much. The war in Ukraine is now more than two months old. |
| 0:23.3 | The economy is expected to shrink by half this year. |
| 0:27.3 | What does a conflict do to jobs, incomes, businesses and cash? |
| 0:31.9 | The common sense of business to make the profit, to invest, to develop, now it's impossible even to say this |
| 0:41.3 | words. That's Business Daily here on the BBC. We've seen how some cities have been |
| 0:48.6 | bombarded in Ukraine. Their populations placed under siege. Others have been occupied by Russian forces like Hercion in the south. |
| 1:01.4 | Those protesters, they risk arrest and detention when they chant. |
| 1:06.9 | Hercian is Ukraine. Glory to Ukraine. |
| 1:10.8 | The city has been under occupation since early March. |
| 1:15.4 | It's estimated that about 40% of the population have managed to leave. |
| 1:20.2 | But for those that remain, essentials like food and medicine, |
| 1:24.8 | well, they're in short supply. |
| 1:25.9 | And Russia has just introduced the ruble as an official currency. |
| 1:31.6 | I've been in touch with one resident for weeks. |
| 1:34.4 | We're not naming her for her safety. |
| 1:37.1 | Contact has been intermittent, difficult. |
| 1:40.1 | The internet and phone contact was often cut. |
| 1:42.8 | But one day, last week, communication networks were back for a short time. |
| 1:48.8 | We caught up while we could. |
| 1:50.5 | I asked her how she was surviving. |
| 1:53.1 | The situation in Hirsson is getting worse. |
... |
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