Word: fayyad
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...whittle down Arafat's domain. Its secret weapon against the imperious Palestinian leader: a team of American accountants. Shuttling between hotels in the West Bank and offices in California, a handful of professionals hired from Standard & Poor's by the reform-minded new Palestinian Finance Minister, Salam Fayyad, are combing through the many business interests of Arafat's Palestinian Authority, looking to uncover malfeasance. When they are done, according to an agreement Arafat signed in August under pressure from U.S. and European officials who threatened to cut aid, the Authority's investments will be given over to a fund administered...
...that is sick of corruption and can't blame it on outsiders. Palestinians often assign their lack of progress toward an independent state to Israeli and American obstinacy, but malfeasance is an all-Palestinian issue, one on which there is a broad popular demand for change. That has given Fayyad, a former official of the International Monetary Fund with a Ph.D. in economics from the University of Texas, the confidence to order the scrubbing of the Authority's books. Says Karim Nashashibi, the IMF's representative in the West Bank and Gaza: "There has been more progress in financial reform...