A woman of valor who can find? for her price is far above rubies. (Proverbs 31:10)
Dr. Karnit Flug has been appointed the governor of the Bank of Israel by Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid concluding a long and arduous process that left the seat of treasury chief unmanned for over 100 days, according to the Jerusalem Post.
Following the announcement on her appointment, Flug thanked Netanyahu and Lapid and expressed her determination to tackle Israel’s economic challenges.
“There are great challenges facing the Bank [of Israel] and the economy and I look forward to working in cooperation with the dedicated and professional staff at the Bank as well as with government officials in order to meet these challenges,” she said.
Flug, who is currently the deputy BOI governor, has served as the acting central bank chief since former governor Stanley Fischer’s resignation in June. She completed her doctorate at Columbia University and served as an IMF economist before joining the Bank of Israel in the 1980’s.
Fischer had named Flug his deputy in 2011 and it was widely believed that he had hoped she would succeed him.
After the appointment Netanyahu and Lapid said in a joint statement: “We were impressed by Dr. Flug’s performance in the last months as [acting] governor of the Bank of Israel. We are confident that she will continue to assist us to advance the Israeli economy to further achievements amidst the global economic turmoil.”
Female MKs Aliza Lavie (Yesh Atid) and Tzipi Hotovely (Likud) expressed satisfaction of the appointment, dubbing it another milestone on the way to gender equality.
Justice Minister Tzipi Livni, however, stressed that gender had nothing to do with the appointment.
“Finally, even in Israel, [they] figured out that gender is no longer relevant when it comes to professionalism, and [they] are not afraid to appoint a woman to a senior financial post, even if it is considered a ‘masculine’ role,” she said.
“I have no doubt [Flug] will efficiently and successfully fill the big shoes Stanley Fischer left behind – not because she is a woman, but because she’s a worthy professional,” she added.
Opposition leader Shelly Yacimovich said she “tips her hat” to Prime Minister Netanyahu for choosing Flug, despite previous reservations he had.
Meretz chairwoman Zahava Gal-On joined the congratulating, but turned her focus to criticize Netanyahu and Lapid for taking too long to make the decision.
“The fact it took Netanyahu and Lapid 112 days to appoint the acting Bank of Israel governor, whose appointment was obvious to begin with, points above all to a very concerning leadership failure,” Gal-On said.
“I hope [Flug] promotes economic goals beyond inflation and growth, such as reducing inequality and eradicating poverty, that have grown in recent years to worrying proportions,” she continued.
Professor Zvi Eckstein, who was also in the running for the post, also congratulated Flug and wished her luck in her new job.
