The Chairman of the Bank of Israel, Professor Amir Yaron, responded to Moody’s decision to lower Israel’s sovereign credit rating from A1 to A2 for the first time in history. Yaron cited several reasons for the downgrade, including uncertainty about ending the war, the impact of the war on government attention to economic and social problems, and changes in fiscal circumstances. He emphasized that Moody’s did not ignore Israel’s strong macroeconomic and monetary framework and its resilience to crisis situations. To strengthen market confidence and improve ratings agency perception, Yaron urged the government and Knesset to address the economic issues raised in Moody’s report. Despite this setback, he expressed confidence in Israel’s ability to recover quickly.
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