The International Monetary Fund (IMF) has rejected the application of the Palestine Liberation Organization for observer status, the IMF confirmed last Friday. This represented a setback for the terrorist organization which is seeking legitimacy in the West.
Sixty percent of the voting power in the IMF executive board, whose votes are weighed by size of the national economy of the representative countries, opposed the application. Countries opposing the PLO were the U.S., Great Britain, Germany, France, Finland, Holland, Canada, Italy and Australia.
In support of the PLO were Spain, Iran, Brazil, India, Indonesia, Libya and Saudi Arabia. Abstaining were Japan, Belgium, Botswana, the Cameroons and Chile.
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