Ex-BoI governor Frenkel heads Liberman's new advisory team

Avigdor Liberman  credit: Eyal Izhar

Minister of Finance Avigdor Liberman appears to be continuing his efforts to sideline the Bank of Israel under Amir Yaron.

Further to his attempt to bar the Bank of Israel from the committee to examine regulation of financial institutions, Minister of Finance Avigdor Liberman is continuing his aggressive line by leapfrogging the central bank to form a cabinet of economic experts headed by former governor of the Bank of Israel Jacob Frenkel. The move seems especially questionable given the fact that the minister of finance has on his desk the economic plan of the Bank of Israel - one of the central bank's official functions is to act as economic adviser to the government.

According to the Ministry of Finance announcement, the expert panel held its first meeting a few days ago, with Liberman's participation.

"The team was set up to examine the steps we are taking with a broad and long-term view," Liberman said at the start of the meeting. "The team will analyze economic policy and examine the broader and deeper implications of proposed policy measures. At this time, we are being held under a magnifying glass by international markets and bodies. Everyone is looking at the Israel economy, especially after such a long period without a state budget. Passing the budget allows the spotlight to be focused on Israel's economy policy, as we implement the reforms that the budget contains. 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 raising productivity in the various parts of the economy."

In addition to Frenkel, the members of the advisory team are former budgets commissioner David Boaz; Adv. Udi Barzilai, CPA, formerly deputy commissioner of property taxation; Eli Yones, formerly accountant general, CEO of Bank Hapoalim, and CEO of Mizrahi Tefahot Bank, and currently a consultant 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 a division head at Bank Hapoalim; and Prof. Efraim Sadka, formerly chairperson of Shikun & Binui and currently a director on the boards of some of Israel's largest companies and a professor emeritus of economics at Tel Aviv University.

Published by Globes, Israel business news - en.globes.co.il - on August 9, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Avigdor Liberman  credit: Eyal Izhar
Avigdor Liberman credit: Eyal Izhar
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