Palestinian Authority Prime Minister Salam Fayyad met with the Governor of the Bank of Israel Stanley Fischer last Friday in Jerusalem, Israeli media reported on Monday.

Hebrew-language news site Maariv said that the meeting came at Fayyad’s request, and he was seeking advice on future economic steps.

The officials, who worked together at the International Monetary Fund in the 1990s, met at the American Colony Hotel in East Jerusalem, the report said.

Fischer’s office confirmed that he met with Fayyad, but they gave no further details.

Fayyad's Ramallah-based government has descended into a worsening financial crisis during 2012, citing large debts and the failure of donors to deliver aid.