Bank of Israel Governor Prof. Amir Yaron's term of office is due to end on December 23. He has agreed to stay on after that as temporary Governor while the emergency situation continues.
It now seems that Minister of Finance Bezalel Smotrich supports extending Yaron's appointment as Bank of Israel Governor for a second five-year term. One of the reasons is the reportedly good day-to-day relations that Yaron and Smotrich now enjoy and the finance minister's satisfaction with the quality of the government's work.
Over the past year Yaron had been highly critical of the government's planned judicial reform and in a foreign media interview, he said that the government wanted to replace him. However, the outbreak of the war has disrupted government plans including regarding Yaron and his continuation for a second term. If he agrees to another term, the government will have to recommend him to the president, who would approve the appointment.
The market and business community also strongly appreciate Yaron's work and support him to remain as governor. Many businesspeople have spoken out on their desire to see Yaron continue at the helm of the Bank of Israel for a second term. The Prime Minister's Office has also said that Yaron's tenure as governor will be extended 'soon'.
Published by Globes, Israel business news - en.globes.co.il - on November 19, 2023.
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