Fischer awarded best Mideast central bank governor

Emerging Markets magazine lauds Bank of Israel governor's 'proactive monetary policy' in crisis

Gad Lior|Published: 10.10.10 , 14:42

Governor of the Bank of Israel Stanley Fischer was declared best central bank governor for the Middle East in 2010 Saturday by Emerging Markets magazine, published during the annual meetings of the International Monetary Fund and the World Bank Group.

Each year, the magazine awards a central bank governor and finance minister in five regions – the Middle East, Eastern Europe, Latin America, Asia, and Africa.

Other winners this year came from Morocco, India, Nigeria, and Malaysia.

"Fischer’s textbook example of pro-active monetary policy in the global crisis has buttressed his reputation as one of the world’s most respected economists and endeared him to policymakers globally," Emerging Markets cited David Lubin, an emerging market economist at Citigroup as saying.

"Fischer’s ahead-of-the-curve policy, both at the loose and tight phase of the monetary cycle, has been uniquely effective in recent years."

The magazine added that "in September 2008, as the western financial system imploded, Israel was shielded from the storm, as Fischer had already deployed his razor-sharp instincts and taken pre-emptive action".

A week ago Fischer was declared one of seven outstanding central bank governors for 2010 by another leading economic forum, for the second year in a row.