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.
- Understanding the ripple effect: 8 reasons the US economy has slowed down in Q1 of 2015
- Can Bahrian emerge from the oil price plunge 'stronger than ever'?
- Egyptian stocks plummet as Yemen confict deepens
- UAE sweetens flotation regulations to attract more investment
- Replacing Switzerland? Why Lebanon isn't keeping its banking secrecy a secret