Governor of the Bank of Israel Emphasizes Addressing Economic Aspects of Moody’s Report to Boost Market Confidence

Israel’s Sovereign Credit Rating Downgraded: Bank of Israel Chair Calls for Action on Economic Issues

In response to Moody’s decision to lower Israel’s sovereign credit rating from A1 to A2 for the first time in history, Bank of Israel Chairman Professor Amir Yaron spoke out. He explained that the primary reasons for the downgrade include uncertainty about ending the war, the impact of the war on government and Knesset attention to economic and social problems, and changes in fiscal situations. While Moody’s did not overlook Israel’s strong macroeconomic and monetary framework and its ability to withstand crises, Yaron emphasized that it is crucial for the government and Knesset to take action to address economic issues raised in their report. Despite this setback, Yaron expressed confidence in Israel’s economy and its ability to recover quickly.

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