Fischer says Frenkel will face ‘completely different' world

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Stanley Fischer, the outgoing governor of the Bank of Israel, has used a press conference marking his departure to highlight the many changes made to the central bank during his time at the helm - and to express confidence that his successor, Jacob Frenkel, would take office "in a few months".

Frenkel is still under investigation for claiming funds not due to him on leaving the central bank, but Fischer said he understands Frenkel "has returned the money" and the issue "has been dealt with".

Fis

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