The International Monetary Fund (IMF) intends to publish a bleak projection for the Israeli economy, predicting it would see a negative growth rate of 0.2%. The Bank of Israel recently published similar projections.
The projections are based on a report filed by an IMF mission who visited Israel at
the end of 2008. The financial crisis sweeping the United States and Europe, it said, "Is likely to translate into a period of financial weakness and major risks for Israel."
| Global Crisis |
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| Bank of Israel predicts recession in 2009 / Gil Kol |
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Annual projections revised, country said to see 0.2% negative growth rate in coming year, market to get back on track by mid 2010 |
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The IMF report carries international significance, since it is distributed to all the major financial institutions and bodies worldwide, the report also affects credit ratings and Israeli bonds' value.
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