By Aryeh Savir –

Tazpit News Agency –

After months of indecision and several scandals, Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid decided today (20 Oct.) to appoint Dr. Karnit Flug as Governor of the Bank of Israel.

Prime Minister Netanyahu and Finance Minister Lapid said, “We have been impressed by Dr. Flug’s performance as Acting Governor in recent months and we are certain that she will continue to assist us in moving the Israeli economy to additional achievements in the face of the global economic upheaval.”

Dr. Flug is the first woman in history to serve as Governor of the BOI, and the political system as now lauding the appointment as a courageous decision, positively accepting this dramatic development.

Dr. Karnit Flug has been the Deputy Governor of the Bank of Israel since July 2011, and was appointed interim Governor in July 2013 after former Governor Stanly Fisher concluded his second term. After a prolonged search for a governor, one which uncovered many dark backgrounds of candidates, Netanyahu and Lapid have made Flug’s appointment permanent. She was initially rejected by the two, but with Fisher’s endorsement and after a grueling process, they have settled for her.

Dr. Flug has an M.A from the Hebrew University and a Ph.D. in Economics from Columbia University. She has been a long time member of the BOI Research Department, and in June 2001 was appointed Director of the Research Department and a member of the BOI’s senior managing staff. She has served on Israeli and international committees, and is an expert on topics related to the labor market, balance of payments and macroeconomic policies.


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