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The Financial Destruction of Palestine

While the United States recently warned that Palestine is facing fiscal collapse, few informed observers are surprised that the Gaza war’s economic fallout has spread to the West Bank. The G7 and the Ad Hoc Liaison Committee must help the Palestinian economy tap international financial assistance like any other developing country.

RAMALLAH – Ahead of the recent G7 summit, US Treasury Secretary Janet L. Yellen, in a rare rebuke of Israel, warned that its plans to cut off Palestinian financial institutions from the global banking system would threaten the West Bank’s economic stability. But her warning may have come too late to stop Israel’s far-right finance minister, Bezalel Smotrich, who seems bent on undermining the last vestiges of the Palestinian Authority’s (PA) already-limited self-governance in the West Bank.