Fischer spent 140 days abroad last year

Bank of Israel Governor traveled abroad 30 times, including 24 business trips, to 34 different countries since taking office; Bank says trips aimed at promoting investment in Israel
Gad Lior

Bank of Israel Governor Stanley Fischer has become Israel's economic envoy. An investigation by Yedioth Ahronot found that since taking office in May 2005 Fischer traveled abroad 30 times, including 24 business trips.

Fischer visited 34 countries on his abroad missions and spent 140 days out of the country, 56 days of which were holidays.

He spent 50 days abroad to attend lectures and conferences.

Fischer has been the target of harsh criticism by Bank of Israel officials who argued that his prolonged absences have caused the cancellation of key meetings and the postponement of important decisions.

"Specifically for this target we hired Prof. Fischer, a world-renowned economist. He is the best ambassador to promote Israel's economic strategy abroad," Likud leader Benjamin Netanyahu said of Fischer.

Fischer's business trips are covered by the Bank of Israel. Fischer pays for his holidays and recently returned from a holiday in Barcelona.

"All of the Governor's trips are meant to advance the Israeli economy's standing among foreign investors, rating companies and international economic forums. At a time when the Israel economy is an integral part of the world economy, the presence of senior Israeli economists at these forums is of utmost importance," the Bank of Israel said in a statement.