Flug officially appointed BOI chief

President, PM and finance minister praise Karnit Flug in special ceremony at President's Residence. Lapid: Israel needs independent bank chief

Dr. Karnit Flug was officially appointed governor of the Bank of Israel in a special ceremony at the President's Residence on Wednesday. The ceremony was attended by President Shimon Peres, Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid.


Netanyahu praised Flug for her management of the Bank of Israel in the past six months. He described Flug's leadership style as "cold and calculated but not cold at heart" and noted it was in line with the needs of the economy and with financial stability.


Flug with Peres, Netanyahu and Lapid (Photo; Gil Yohanan) (Photo: Gil Yochanan)
Flug with Peres, Netanyahu and Lapid (Photo; Gil Yohanan)


Lapid addressed the nomination process and said, "The one good thing that came out of the way this appointment was handled is that Karnit Flug owes us nothing – not to me and not to the prime minister. It's good because a country needs an independent bank chief who has no personal scores to settle and is committed solely to the wellbeing of Israel's citizens."


The finance minister said that both he and Flug would like to see the shekel losing strength and will work together to encourage competition. "We need to generate more available income for the Israeli middle class but for that to happen we need less restrictive regulation. The key is working together," he said.


In an interview with Channel 2 Lapid said he was "horrified" by the salaries of active duty soldiers.

Discussing the challenges that lie ahead Flug said the BOI will work to find ways to increase productivity growth, attract investors, increase capital reserves, improve completion and curtail bureaucracy.



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פרסום ראשון: 11.14.13, 08:34
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