Economic Personalities Take Time Out From The World Economic Forum In Davos, Switzerland To Review Israel's Economic Performance.

Israel Business Today, February, 1999

Mr. Stanley Fischer who is considered to be among the world's most prominent economists and who is the International Monetary Fund's deputy managing director took time out from the Davos Switzerland world economic forum to talk about Israel's macro-economic performance. Mr. Fischer heaped praise on the economic performance of the Israeli economy and the macro-economic advances that the economy has achieved during the last two years.

He had special praise for the Governor of the Bank of Israel, Mr. Jacob Frenkel. In Mr. Fischer's opinion it was Mr. Frenkel's firm response to the October 1998 shekel crisis that prevented the Asian financial and economic crisis from overwhelming Israel. Interest rates and unemployment are high in Israel, but fiscal restraint due to...

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