Palestine: General strike enters second day, PA to borrow from banks to pay wages
[Palestine's] Minister of Finance Nabeel Kassis Wednesday said that his ministry and in cooperation with the Palestine Monetary Authority will borrow from local banks to pay part of the public employees’ November salary.
He said that the borrowing will be guaranteed by the financial Arab safety net promised to the Palestinian Authority to help it overcome Israeli and United States financial sanctions after becoming a non-member state in the United Nations last month.
Public employees observed Wednesday a general work stoppage to protest the delay in getting their November salary. The work stoppage is expected to continue on Thursday as well.
- Excessive caution? Why 'perfectly legitimate' SME's are struggling to find financing in the UAE
- On the brink of recession: Israel's central bank has a tough decision to make on quantitative easing
- A forced conversion? Top Saudi bank pledges to become fully Islamic after criticism from scholars
- Enjoying the ride: ME regional banks on plane orders 'funding' boom
- The cost of delivery: how to financially prepare yourself for having a baby