Professor Jacob Frenkel, Former Governor of the Bank of Israel, told “IDF Radio" (Galei Zahal) this morning, in reference to Stanley Fischer's formal bid for IMF Managing Director, "Fischer has credibility, is full of integrity, and is economically conscientious. He has performed in this way in every position that he has ever had. Integrity above all else."

The world faces many complex challenges today, and Fischer has proven that he can handle these challenges. His appointment would be beneficial to the world economy and of course also to the reputation of the Israeli market."

Fischer's age, 67, is two years beyond the maximum of 65 allowed by the organization.

"From a practical point of view, there is increasing unanimity that Fischer is the most appropriate candidate to head the IMF today. If he is appointed to the position, he will not need an initial learning period: he will be able to utilize his past experience immediately."

Published by Globes [online], Israel business news - www.globes-online.com - on June 12, 2011

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