اجعلنا صفحة البداية RSS خدمة Add to favorite Facebook Twitter

Advanced

PA hopes December summits will activate 'safety net'
Published Wednesday 09/01/2013 (updated) 16/01/2013 13:31
Font- Font+
BETHLEHEM (Ma'an) -- The Palestinian Authority hopes two regional meetings this month will see the promised Arab "safety-net" payments activated, a minister said Tuesday.

The government will again ask for the $100 million-monthly pledge to be implemented, as Arab foreign ministers meeting in Cairo on Sunday and Saudi Arabia hosts a socioeconomic summit on Jan. 21, labor minister Ahmad Majdalani said.

Since early December, Israel has withheld around $100 million in monthly tax revenue it collects on behalf of the PA as punishment for the UN's acceptance of Palestine as a non-member state.

The Arab League states have agreed to cover the lost revenues, but have yet to deliver. Majdalani said Algeria had agreed to transfer $26 million, but it had not yet arrived in the Palestinian coffers.

The funding crisis has compounded a general drop off in donor funds during 2012. Public sector workers are striking this week and the next over delays in salary payments.

Majdalani said the government will not be able to borrow from the banks this month as they have exceeded agreed limits.

The banks lent to the Palestinian Authority in December based on a letter of guarantee from Arab League chief Nabil al-Arabi, and are still waiting for repayments, he said.
Print
1 ) Financial / Crisis
09/01/2013 18:51
It is time to print your own money, pals. Mahmoud Abbas, Mishaal and Haneya will look terrific on the new bills. And even Saeb Erequat and Asrawi would look OK on the coin’s faces, especially if Erequat is shown riding a camel. Think about it – it can resolve your constant budget crunch. But there is one advice – do not use toilet paper to print money. Some people tried, but it did not work out. And of cause, if this does not work - you always have Arab safety net.

2 ) Tibi / Tubas
09/01/2013 18:59
Even the Arab donors seem to have run out of faith that the Palestinian Authority will ever be able to stand on it's own, and may have realized this "safety net" is just "just pouring good money down a bad well".

3 ) USD / Rouble
09/01/2013 20:52
Maybe palestinians can cut down a little bit on demonstrations, protests, sitting-in, chanting, hanger-strikes, rock throwing and start working at least 4-5 hours a day? Then maybe they can earn some money and buy a little bit of gasoline? Of cause it is much easy to seat and wait until US and EU would pay for their fuel and electricity. And of cause it will leave them a lot of free time for demonstrations, protests, sitting-in, chanting ets.

4 ) Work Or / Do Dot Work
09/01/2013 20:53
No one is responsible for feeding palestinians. The West is doing it just because it cannot leave them starving. Palestinians should feed themselves, but they do not have time to do it because they are busy with making and launching rockets into Israel, demonstrating, protesting, chanting, hunger striking, sitting-in, re-writing UN applications ets. They do not have time to work and feed themselves, and honestly - I doubt that they do want to work.

5 ) Money / More Money
09/01/2013 20:54
Palestinians should go to their biggest friends and supporters - Russia, China, South Africa, Venezuela, Brazil and Turkey and ask for money. We will see if they would support palestinians with hard currency as good as they are supporting them with soft words.

6 ) Robby / USA
10/01/2013 06:27
Maybe Suha Arafat can make a loan?
Name Country
Comment
Characters
Note: Comments will be reviewed for appropriate content. Click here for more details.

Share/Bookmark

Gaza loses $3 billion since start of Israel offensive
Bethlehem shops close their doors in support of Gaza
Gaza banks open gradually after week of closure

Close Next Previous
All Rights Reserved © Ma'an News Agency 2005 - 2014