Accountant General Nir Gilad today excoriated Dan & Bradstreet’s decision to lower Israel’s credit ranking. Gilad said that the decision was based on mistaken and incorrect data on the Israeli economy. Gilad added that, like other international ranking companies, Dan & Bradstreet should have presented the report to Israel before its publication.
In a letter to Dan & Bradstreet Israel, Reuven Kuvent, Gilad wrote, “I cannot remember such played-up reports on Israel’s credit ranking in the past. Such played-up, unclear reports make one wonder about the underlying intention.
”All I can do is regret the inaccuracies in the report, as well as the very fact of its publication. I would be grateful if you relay my letter to Dan & Bradstreet International and to the superior of the analyst who wrote the report.”
In his letter, Gilad points out that he does not recall that Dan & Bradstreet representatives met Ministry of Finance officials involved with Israel’s credit rating or its fiscal policy, which is referred to in detail in the report.
Gilad added, “On examining the company’s report, we detected many mistakes concerning data and figures, as well as many inaccuracies indicating misunderstanding of the government’s economic policy.”
Published by Israel's Business Arena on 19 February, 2001