Palestinian Monetary Authority Governor Jihad Al Wazir said he has readied the financial system to withstand the repercussions that may follow a plann (more)
Palestinian Monetary Authority Governor Jihad Al Wazir said he has readied the financial system to withstand the repercussions that may follow a planned statehood bid at the United Nations as soon as this month.
Palestinian Authority President Mahmoud Abbas said Nov. 11 he'll resist global pressure to drop the bid or wait until after Israeli elections on Jan. 22. That decision may spur Israel to halt the transfer of tax revenue to the Palestinian Authority, Israeli Finance Minister Yuval Steinitz said this week.
"The political decision has been taken and the leadership has been very outspoken in saying that there will be repercussions, and we are willing to take these repercussions," Al Wazir, 49, said in an interview at his office in the West Bank city of Ramallah. From the window, there is a view of a large hole in the distance, where the monetary authority's new headquarters is being built, and on the wall hangs an artist's rendering of the project.
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