Channel 2 reports that Jacob Frenkel has informed Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid of his decision.
Public pressure has been effective and Prof. Jacob Frenkel has withdrawn his candidacy to be Governor of the Bank of Israel, Channel 2 reports. Frenkel has reportedly informed Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid of his decision. He had been chosen to replace Prof. Stanley Fischer who stepped down at the end of June.
However, a wave of publicity about a misunderstanding at a duty free store at Hong Kong airport and accusations of shoplifting, and the order by the State Comptroller to return expenses during his first tenure as Bank of Israel Governor undermined his image in the public eye, and also raised doubts that the Turkel Committee would approve his appointment.
Published by Globes [online], Israel business news - www.globes-online.com - on July 29, 2013
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