Bank of Israel’s Flug to stand down in November

First female governor stresses importance of central bank independence

Karnit Flug, Bank of Israel

The governor of the Bank of Israel has informed the country’s prime minister she does not wish to renew her term when her current one comes to an end in November.

In a letter to prime minister Benjamin Netanyahu, Karnit Flug said she would end her tenure with a feeling of “great satisfaction”.

“I was privileged to head an organisation of the highest quality, which works with professionalism, dedication and loyalty, and that on a daily basis lives up to the vision it set for itself,” she said.

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