(Financial Times-UK) Neri Zilber - Israeli leaders have hit back at a credit rating downgrade from Moody's, with Prime Minister Benjamin Netanyahu arguing it was a result of the war rather than the underlying economy. The rating agency lowered Israel's rating from A1 to A2. Netanyahu said, "The rating downgrade is not connected to the economy, it is entirely due to the fact that we are in a war. The rating will go back up the moment we win the war." Bank of Israel Governor Amir Yaron on Sunday defended Israel's "strong" macroeconomic and monetary policy and the economy's "rapid recovery from the initial shock of the war," including in the financial markets. "The Israeli economy is rooted on strong and healthy economic fundamentals. We have known how to recover from difficult periods in the past and rapidly return to prosperity."
2024-02-12 00:00:00Full ArticleBACK Visit the Daily Alert Archive