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Palestinian Minister Denies Secret Funds
The top finance official on Friday disclosed the Palestinian Authority had more than $600 million in liquid assets but denied the organization had secret funds. Finance Minister Salam Fayad also said the authority had given no money to groups accused by Israel and the United States of terrorism.No, no! Certainly not! In an interview, Fayad gave a detailed accounting of the Palestinian Authority's financial assets, held locally and internationally. Among the most valuable were Orascom Telecom Algeria, valued at $90 million, and the Jordan Mobile Telecommunications Company, valued at more than $66 million. "Reform is not very easy in the best of circumstances," said Fayad, who in recent months has won praise from Palestinians and Israeli and American officials for making the Palestinian Authority's murky finances more transparent. Posted by: Fred Pruitt 2003-02-28 |
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