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Int'l donors: No payday for PA
Today's feel good story.The Palestinian Authority was denied extra funds at Wednesday's donor conference in London because it failed to adhere to spending limitations, according to Israeli and international sources at the meeting. The PA had hoped to use the meeting of international goverments, called the Ad-Hoc Liason Committee, to secure additional money, but the donors expressed concern that the Palestinians had exceeded their budget on payroll and weren't inclined to provide more funds. The request was outside the scope of the gathering, which was not a formal pledging conference but was intended to establish a policy position for the spring when pledges will be made. A World Bank study released ahead of the conference reported that the PA could go bankrupt if it didn't curb its salary spending. The PA has been running a monthly deficit of $57.1 million, accumulating a total deficit of $542 million through September, according to the report. The document produced at the conclusion of the meeting cited, among other concerns, that "The PA has not managed to maintain budget discipline, and the situation has become untenable." More at the link. Posted by: phil_b 2005-12-15 |
| http://www.rantburg.com/poparticle.php?ID=137488 |