Israeli central bank governor's tenure extended despite dispute with gov't

Xinhua
21 Nov 2023, 02:05 GMT+10

JERUSALEM, Nov. 20 (Xinhua) -- Bank of Israel Governor Amir Yaron's tenure will be extended for another five-year term, said a joint statement from the country's Prime Minister's Office and the Finance Ministry on Monday.

Israeli Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich agreed to extend Yaron's term even though over the last year the governor criticized several times the judicial reform promoted by the government and warned of its consequences on the Israeli economy.

Following his remarks, coalition members severely criticized Yaron and demanded that another governor be appointed for the next term.

However, since the outbreak of the latest round of conflict between Israel and Hamas, some senior economic officials and experts have demanded that Netanyahu immediately extend the governor's term due to the economic crisis resulting from the war, with huge deficits, high unemployment, and many difficulties for businesses and households, Israeli news website Ynet reported.

Following the decision to extend his tenure, Yaron, who took office in December 2018, said in a separate statement issued by the central bank, "We have many important tasks ahead of us in the economic sector. I will do everything in my power to meet them successfully and professionally for the benefit of the economy and the country."

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