Stanley Fischer as a young man worked on a kibbutz (agricultural
settlement) where he learned to speak Hebrew. He has had many years
of contact with the State of Israel and the Israeli economy,
including service as US administration representative vis-a-vis the
Israeli economy's mid-1980's stabilization plan. He has also taught
at the Hebrew University in Jerusalem. Prime Minister Sharon said
that, "Fischer is an economist with a global reputation and the State
of Israel will be blessed through his talents, principally in the era
of globalization in the economic markets".
The fact that a person of his caliber is willing to cut his ties with
Citibank, to immigrate to Israel and serve as Governor of the Bank of
Israel, is a wonderful opportunity for the Israeli economy."
Fischer, 61, is the Vice Chairman of Citigroup, the largest financial
corporation in the world, and is considered to be one of the most
senior economists in the world. He has previously served as First
Deputy Managing Director of the International Monetary Fund.
Before he joined the IMF, Prof. Fischer was the Killian Professor and
Head of the Department of Economics at MIT (Massachusetts Institute
of Technology). From January 1988 to August 1990 he was Vice
President, Development Economics and Chief Economist at the World
Bank.
He has held visiting positions at the Hebrew University, Jerusalem,
and at the Hoover Institution at Stanford.
He is credited with helping to create a policy that reduced Israel's
hyperinflation of the 1980s.
Prime Minister Ariel Sharon and Finance Minister Benjamin Netanyahu have
recommended the appointment of Stanley Fischer for the post of
Governor of the Bank of Israel.