Palestinian Authority receives $100m loan to aid financial crisis

Palestine Monetary Authority chief Jihad al-Wazir has approved the loan The Palestinian Authority (PA) will receive a short-term loan of $100m to assist in the payment of salaries, the Palestine Monetary Authority (PMA) has confirmed. Due to the financial crisis facing the Palestinian Authority because of Israel's sanctions, Palestinian bank representatives have agreed to a short-term loan, which is to be repaid by the Arab League.
PMA chief Jihad al-Wazir, told the Ma'an news agency that the Palestinian Authority has already borrowed $1.2m from the banks. He added that the loan will help the authority pay salaries.
Earlier this month, former Israeli Foreign Minister Avigdor Lieberman said that while Israel decided to withhold tax revenues from the Palestinians for four months and use the money to pay Palestinian debts, Israeli officials had transferred funds to pay salaries. He said Israel paid $236.7m to settle PA debts and advanced another $184.1m to pay salaries.
On Wednesday, Palestinian government employees began a two-day strike to protest against the situation. "The strike is against Israel's piracy," Bassam Zakarneh chief of the government's employees union told the Ma'an news. "The situation is very grave and the services are reduced by the strike. People can't even afford transportation to their workplace."
Source: UPI