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Fayyad asks for Bank of Israel help in financial crisis

February 17, 2014 at 11:18 pm

Israeli newspaper Maariv has revealed that the Prime Minister of the Ramallah-based Palestinian Authority has asked the governor of the Bank of Israel for help to relieve the PA’s financial crisis. The request was made in a meeting between Salam Fayyad and Stanley Fischer in Jerusalem, during which Fayyad also asked for Fischer’s advice about ways to overcome the crisis engulfing the PA.

This is not the first time that Fayyad has met with Israeli officials for financial advice and support. He met with Fischer several months ago in order to convince the International Monetary Fund (IMF) to grant the Palestinian Authority a loan of one billion dollars. He also met with the Israeli Minister of Finance, Yuval Steinitz, to enhance economic coordination between the PA and Israel.

Fischer is regarded as one of the most senior of successful bankers in the world, according to international magazine Global Finance.