[ Wall Street Journal] Bob Davis - As the International Monetary Fund's No. 2 official, Stanley Fischer helped guide the global economy through the financial crisis that devastated Asia, Latin America and Russia in 1997 and 1998. Now, Mr. Fischer is governor of the Bank of Israel, putting him in charge of a onetime largely socialist economy that has embraced the classic IMF advice of tightening budgets, opening borders to trade and investment, and privatizing companies - and has prospered immensely. Over the past five years, Israel has grown at an average of about 5% annually, while inflation was often less than 2%.
2008-07-11 01:00:00Full ArticleBACK Visit the Daily Alert Archive