Tarry for the Nonce

January 10, 2006

A Short-Term View

Filed under: News — lmwalker @ 6:37 pm

The Palestinian economy may crumble:

The Palestinian Authority, the largest employer in the territories, is facing a fiscal crisis that could result, as early as next month, in it being unable to pay the salaries of its 130,000-plus officials and security staff, Nigel Roberts, the World Bank’s man in the West Bank and Gaza Strip said . . .

To put it simply: The PA is on the verge of functional bankruptcy . . . According to the World Bank, the unemployment rate in the territories exceeds 20 percent, with a rate of about 30 percent in the Gaza Strip, over 40 percent in the southern part of Gaza and among young people (ages 16-25) in southern Gaza, the favorite source of cannon fodder for Islamic Jihad, unemployment reaches the alarming rate of 70 percent . . .

“The Palestinian government needs the continued assistance of the international community,” Roberts declares, “and to secure that, it must begin to assume its responsibilities.” Raising salaries at a time when resources are unavailable for this, he notes, is precisely the opposite of demonstrating responsibility and reliability . . .

Roberts notes that the amount of assistance the Palestinians are getting – $5 billion in five years, or $300 per capita annually – is the highest granted to any entity since World War II.

Maybe if they spent more of their money on economically-minded initiatives and less on their “liberation movement,” they wouldn’t be in such a pickle.

(Hat tip to Best of the Web.)

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2 Comments

  1. Maybe if they spent more of their money on economically-minded initiatives and less on their “liberation movement,” they wouldn’t be in such a pickle.

    I concur. Maybe we should stop providing aid and let nature take its course….. was that wrong of me to say it?! Admit it, you were thinking it too….

    Comment by Andrew P. — January 11, 2006 @ 3:03 am

  2. I was more along the line of “well, I just hope we don’t ‘lend’ them too much money, because we’ll never see it again”

    Comment by Alistair A. — January 12, 2006 @ 5:16 pm


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