"I regret that the recent developments will not allow Frenkel the privilege of serving Israel as governor for another term."
"I regret that the recent developments will not allow Frenkel the privilege of serving Israel as governor for another term, which I am sure would have contributed greatly to the country, its residents, and its economy," said former governor of the Bank of Israel Stanley Fischer today, in response to governor-designate Jacob Frenkel's decision to withdraw his candidacy.
""Prof. Frenkel was an excellent governor and a key player in the modernization of Israel's monetary policy and financial system during his term of over eight years until 2000, added Fischer. "After leaving the Bank of Israel, Prof. Frenkel went on to hold top posts at global organizations, which added to his huge knowledge of the world economy. All this brought him extensive professional and personal recognition, and to his appointment as executive director and then as chairman of the G30, the prestigious organization of economists, former finance ministers and central bank governors of the world's leading nations."
Published by Globes [online], Israel business news - www.globes-online.com - on July 30, 2013
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