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| Middle East |
| Palestinian Minister Denies Secret Funds |
| 2003-02-28 |
| The top finance official on Friday disclosed the Palestinian Authority had more than $600 million in liquid assets but denied the organization had secret funds. Finance Minister Salam Fayad also said the authority had given no money to groups accused by Israel and the United States of terrorism. No, no! Certainly not! In an interview, Fayad gave a detailed accounting of the Palestinian Authority's financial assets, held locally and internationally. Among the most valuable were Orascom Telecom Algeria, valued at $90 million, and the Jordan Mobile Telecommunications Company, valued at more than $66 million. "Reform is not very easy in the best of circumstances," said Fayad, who in recent months has won praise from Palestinians and Israeli and American officials for making the Palestinian Authority's murky finances more transparent. |
| Posted by:Fred Pruitt |
| #3 "the authority had given no money to groups accused by Israel and the United States of terrorism." "of course not - we put it in Swiss banks where it is earning interest for our ...uh..retirement fund" |
| Posted by: Frank G 2003-02-28 13:57:23 |
| #2 Right out of Forbes Magazine's "Filthy Friggin' Rich" issue: Yasir Arafat Country/Title: Palestinian Authority/President Estimated Worth: $300 million Age: 73 The president of the Palestinian Authority clings to power despite Israeli and U.S. hostility to his regime. Arafat has feasted on all sorts of funds flowing into the P.A., including aid money, Israeli tax transfers and revenue from a casino and Coca-Cola bottler. Much of the money appears to have gone to pay off others. New Finance Minister Salam Fayyad is cleaning up the P.A.'s finances, cutting off much of Arafat's cash flow. Coming up next: Another UN report on those poor, starving Palestinians... |
| Posted by: tu3031 2003-02-28 13:31:10 |
| #1 Shouldn't that last line read "more transparent than before, but still far, far more clouded than even Enron's financial dealings"??? |
| Posted by: Scooter McGruder 2003-02-28 13:30:05 |