Lack of Funds Shows Palestinian Authority Vulnerability

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23 November 2011


Israel Prime Minister Benjamin Netayahu

RAMALLAH – Israeli Prime Minister Benjamin Netanyahu froze tax funds to Palestine as retaliation for Palestine seeking statehood with the United Nations.  The funds were unfrozen and transferred to Palestine accordingly.  The unfreezing of the funds will help pay salaries of civil servants and members of security forces.  The Palestinians are still intent on pushing for full UN membership.  They have successfully joined UNESCO as part of their bid for recognition.  The decision to unfreeze funds came from “massive” western diplomat pressure.  There is speculation that Palestinian President Mahmoud Abbas may put bid on hold until the end of January to allow mediation by the “Quartet”.  The Palestinian Authority relies on funding from foreign aid for development projects and operating costs.  Palestinian Prime Minister Salam Fayyad took loans from banks to make up for the shortfall in foreign aid but reached its borrowing limit right before the announcement to unfreeze funds.  The quartet is urging Israel to transfer the funds to continue peace and cooperation between Israel and Palestine.  The current global economic situation does not guarantee Palestine will continue to get the foreign aid it has been receiving. 

Reliability:  8

Source:  Resumption of Israeli Transfers Averts PA Crisis

http://abcnews.go.com/International/wireStory/israel-release-withheld-money-palestinians-15054128

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