March 31, 2006

REALITY IS A BITCH:

Tough task awaits Hamas finance chief (Roger Hearing, 3/31/06, BBC)

Dr Omar Abdel Razeq has the least enviable job in the new Palestinian government.

As minister of finance, this tall, bearded, 46-year-old US-educated economist is faced with squaring a nightmare circle of ever-growing debts and ever-diminishing income. [...]

His idea is that by dealing effectively with the corruption and incompetence that characterised the old Fatah administration and was so dramatically rejected by Palestinian voters last January, Hamas will eventually be able to win round the doubters in the international community.

"What they care about in the West is the way we handle public funds," he says.

Dr Razeq may be right in the end.

However, many in the West Bank and Gaza fear the economy has reached such a dire position that it cannot endure the loss of most international financial help while it waits for the west to make up its mind about Hamas.


They can only grow their economy by becoming more like we require them to be.

Posted by Orrin Judd at March 31, 2006 6:47 AM
Comments

""What they care about in the West is the way we handle public funds," he says.'

He "may be right in the end" alright. But he seems a little thick in the head.

Posted by: Genecis at March 31, 2006 10:32 AM

On the other hand, they could easily triple or quadruple their effective spending money if they stopped the corruption.

Posted by: Annoying Old Guy at March 31, 2006 12:05 PM

The best thing about ending funding for the PA is that it will force any governing party to seek funds from their own people.

Making the King come to Parlianment for funds is how democracy and the rule of law develops.

That's why oil wealth is so destructive to nations - it absolves the govt from having to go to the people and control their own behavior.

The Palestinians will not be able to fund a war with Israel unless they liberalize their economy and politics, but once they have some wealth they won't want to risk it in a war with Israel.

Posted by: Chris Durnell at March 31, 2006 4:49 PM
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