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(Globes) Amiram Barkat - Christian Esters, Senior Director at Standard & Poor's Global Ratings, told the Israel Democracy Institute on Monday that Israel's main strength lay in "the fact that Israel has had a current surplus on its balance of payments in each of the past seventeen years...the largest surplus in the world among countries that do not export raw materials. The cumulative surplus has led to the accumulation of foreign exchange reserves by the Bank of Israel now amounting to more than 40% of GDP. Esters estimated that the increase in debt as a result of the coronavirus pandemic was considered moderate in comparison with other developed Western countries such as the U.S., UK, and France.2020-12-28 00:00:00Full Article
Economic Analyst Pinpoints Israel's Rating Strength
(Globes) Amiram Barkat - Christian Esters, Senior Director at Standard & Poor's Global Ratings, told the Israel Democracy Institute on Monday that Israel's main strength lay in "the fact that Israel has had a current surplus on its balance of payments in each of the past seventeen years...the largest surplus in the world among countries that do not export raw materials. The cumulative surplus has led to the accumulation of foreign exchange reserves by the Bank of Israel now amounting to more than 40% of GDP. Esters estimated that the increase in debt as a result of the coronavirus pandemic was considered moderate in comparison with other developed Western countries such as the U.S., UK, and France.2020-12-28 00:00:00Full Article
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