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(CNN) Leone Lakhani - Ramallah, in the West Bank, has boomed over the past five years, with new restaurants, cafes and even luxury hotels. Bar owner Yazan Khalili said, "Since banks give loans for anyone who wants to open a business, this becomes a possibility." Most of the money in the economy comes from the government - the Palestinian Authority - and most of its money comes from donor aid. Many Palestinians are borrowing money to fund their basic needs and it is feared that, if donor aid dries up, many will be without work to fund their lifestyles. 2012-09-07 00:00:00Full Article
Fears for Bubble Burst after Ramallah Boom
(CNN) Leone Lakhani - Ramallah, in the West Bank, has boomed over the past five years, with new restaurants, cafes and even luxury hotels. Bar owner Yazan Khalili said, "Since banks give loans for anyone who wants to open a business, this becomes a possibility." Most of the money in the economy comes from the government - the Palestinian Authority - and most of its money comes from donor aid. Many Palestinians are borrowing money to fund their basic needs and it is feared that, if donor aid dries up, many will be without work to fund their lifestyles. 2012-09-07 00:00:00Full Article
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