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(Jerusalem Post) Lamia Lahoud - Palestinian Authority Finance Minister Salaam Fayad announced Tuesday that the salaries of PA employees would not be paid for November due to lack of funds. Payment of October's salaries was only finalized on Monday. Fayad borrowed money for the last three months' salaries from private Palestinian banks, which are reluctant to continue giving loans to the PA. The PA spends around $55 million on salaries each month and Arab states have pledged the same amount. However, since October, only Saudi Arabia has paid its share, which comes to about $7.7 million a month. 2002-12-04 00:00:00Full Article
PA Finance Minister Has No Money for Salaries
(Jerusalem Post) Lamia Lahoud - Palestinian Authority Finance Minister Salaam Fayad announced Tuesday that the salaries of PA employees would not be paid for November due to lack of funds. Payment of October's salaries was only finalized on Monday. Fayad borrowed money for the last three months' salaries from private Palestinian banks, which are reluctant to continue giving loans to the PA. The PA spends around $55 million on salaries each month and Arab states have pledged the same amount. However, since October, only Saudi Arabia has paid its share, which comes to about $7.7 million a month. 2002-12-04 00:00:00Full Article
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