Israel Central Bank Governor Stanley Fischer Resigns Effective June 30th

by Colonel on January 29, 2013

“In a brief statement, the Bank of Israel said governor Stanley Fischer informed Prime Minister Benjamin Netanyahu that he will step down on June 30. …

Fischer, an internationally respected economist, served as deputy director of the International Monetary Fund and held top posts the World Bank and Citigroup Inc. before taking over Israel’s central bank in 2005.

His monetary policies and Israel’s tight control of its banks are seen responsible for the nation’s stability despite the worldwide economic crisis that hit during his reign. Israel’s economy continues to grow, and unemployment is roughly 6.5 percent, relatively low in world terms.

His departure comes two years before the end of his second five-year term. Israeli media speculated that his resignation was due to personal reasons, not a disagreement with the government.

” — Aron Heller, Copyright 2013 The Associated Press

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