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The governor of the Bank of Israel, Karnit Flug, will resign in November and will not seek a second term, the bank said Friday.
Flug's talks with Prime Minister Benjamin Netanyahu on Thursday, the Bank of Israel said in a statement, informing her that she will not be running for a second term in office. as governor of the central bank. The bank said it would continue to carry out all its functions at the head of the bank until its term ends on 12 November.
"I have had the privilege of leading an organization of the highest quality, which works with professionalism, dedication and loyalty, and who every day lives up to the vision that it has for Is set to be one of the most advanced central banks to contribute to Israel's prosperity and the well-being of its citizens, "she writes to Netanyahu.
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"I can already say that I will end my term with a feeling of great satisfaction, as the Bank of Israel has a strong role in the solid state and stability displayed by the Israeli economy. in recent years, as well as in the "In a statement, Netanyahu thanked Flug – the first women to lead the bank – for his" dedicated service "and his" contribution to the economy of Israel. "[19659007] Prime Minister Benjamin Netanyahu receives a copy of Bank of Israel Governor Karnit Flug's 2015 Annual Report to the Prime Minister's Office in Jerusalem, April 3, 2016. (Kobi Gideon / GPO)
Ms. Flug said in April that she was undecided about the possibility of running for a second term, after Finance Minister Moshe Kahlon said that the search for a new governor would begin soon
]. a report criticizing the finance minister's flagship housing project, which subsidizes homes for qualified buyers. Flug is also repeatedly bumped into Kahlon in his attempt to cut taxes on citizens, saying the government should spend excess tax revenues on infrastructure, education and service improvements.
Flug, who replaced Stanley Fischer who became a Vice President of the US Federal Reserve
Neither Netanyahu nor Kahlon publicly named a preferred candidate to succeed Flug, and the Bank of Israel did not recommend a preferred choice of successor either. Flug was recommended for the post by Fischer, but was initially pbaded in favor of the other candidates before being selected.
Flug, 63, Ph.D. in economics at Columbia University, had previously served as deputy governor of the Bank. from Israel and before that held various positions at the Bank and the International Monetary Fund.
Shoshanna Solomon contributed to this report.
