“Israel’s durability during and after the financial crisis, proves that Stanley Fischer deserves the honor he receives among the elite of the international financial community,” – Euromoney magazine
Euromoney magazine, a leading international banking, finance and capital markets news publication, named Bank of Israel Governor Stanley Fischer the world’s best bank governor for 2010 for his leadership of Israel’s economy in the wake of the global financial crisis.
The magazine, which has been giving out the award to the outstanding central bank governor for the last 30 years, commended Fischer for striking the ideal balance between moderating inflation and supporting economic recovery.
“His bold move to raise interest rates in September 2009 – the first country to do so after the crisis – proved well-guided and prescient,” the magazine noted. It also praised the central bank chief for his involvement in the foreign currency trade.
“His innovative move towards an interventionist exchange-rate policy, whilst controversial at the time, has bolstered Israel’s reserves while boosting the country’s exports, which are key to its economic performance,” the magazine said.