In addition to his bid to bar the Bank of Israel from the commission to investigate the regulation of financial institutions, Treasury Secretary Avigdor Liberman is continuing his aggressive line by rushing the central bank and forming a cabinet of economic experts led by the former governor of the Bank of Israel. Israel Jacob Frenkel. The move seems especially dubious given that the finance minister has the Bank of Israel’s economic plan on his desk — one of the central bank’s official functions is to act as an economic adviser to the government.
According to the announcement of the Treasury Department, the panel of experts held its first meeting a few days ago, with the participation of Liberman.
“The team was created to examine the steps we are taking with a broad and long-term vision,” said Lieberman at the start of the meeting. “The team will analyze economic policies and examine the broader and deeper implications of proposed policies. Right now, we are being scrutinized by international markets and agencies. Everyone is looking at Israel’s economy, especially after such a long period without state budget. By adopting the budget, the spotlight can be focused on Israel’s economic policies as we implement the reforms contained in the budget. The team will be an external body that will strengthen the professionals and the analytical and operational base underlying the various decisions. The key to success is achieving sustainable growth while maintaining financial stability and increasing productivity in different parts of the economy.”
In addition to Frenkel, the advisory team consists of former budget commissioner David Boaz; Adv. Udi Barzilai, CPA, formerly Deputy Property Tax Commissioner; Eli Yones, formerly general accountant, CEO of Bank Hapoalim and CEO of Mizrahi Tefahot Bank, and currently advisor to foreign investment funds; Anath Levin, head of BlackRock Israel, and formerly chief investment officer at Migdal Insurance and Financial Holdings Ltd. and Clal Insurance Enterprises Holdings Ltd., and division head at Bank Hapoalim; and prof. Efraim Sadka, former chairman of Shikun & Binui and currently a director on the boards of some of Israel’s largest companies and emeritus professor of economics at Tel Aviv University.
Published by Globes, Israel Business News – en.globes.co.il – on August 9, 2021
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