Barak Seener, writing in The National Interest, has a very good summary of PA financial corruption and its relevance for future peacemaking. From Voices from Afar: Transparently Corrupt:
Corruption thrives in the PA, as those controlling the purse strings benefit from the absence of accountability and by embezzling funds earmarked for critical infrastructure projects. Far from attempting to generate a dynamic economy, the PA—first under Yasir Arafat and now under Mahmoud Abbas—perpetuates a system based on monopolies in various industries granted by PA officials in exchange for kickbacks. At times during Arafat’s reign, a third of the PA’s budget went for "expenses of the President’s office," without further explanation, auditing or accounting. The international community, particularly European governments, disbursed funds, often in bags of cash delivered directly to Arafat, watching silently as billions of dollars of international aid disappeared into personal bank accounts. Officials throughout Europe ignored the evidence of this widescale corruption.
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