Rice: Donors conference last chance for PA to avoid bankruptcy

US Secretary of State Condoleezza Rice said a donors conference Monday was the Palestinian government's "last hope" to avoid bankruptcy and urged fast and generous international aid. Rice said the US government pledged $555 million for 2008. The money, however, includes about $400m. that the White House announced but has not been approved by Congress. "The Palestinian Authority is experiencing a serious budgetary crisis," she said. "This conference is literally the government's last hope to avoid bankruptcy.