PA’s Fayyad: Palestinian Authority on brink of bankruptcy

PA-installed Prime Minister Salam Fayyad said the Palestinian Authority, facing its most severe economic crisis ever was at the brink of bankruptcy.

Contrary to their promises, the Arab countries Fayyad visited have not yet provided the PA with a financial safety net of $100 million a month.

A month ago, the Arab League members stated that they will assist the PA on a monthly basis in light of the postponement in tax monies transferred from Israel to offset debts, mainly to the electricity company.