Prime Minister Binyamin Netanyahu and Finance Minister Yair Lapid on Sunday, 16 Cheshvan 5774 announced they have selected Dr. Karnit Flug to serve as the next governor of the Bank of Israel.

Dr. Karnit Flug has been the Deputy Governor of the Bank of Israel since July 2011. She was appointed as Deputy Governor by the Israeli Government, in accordance with the Bank of Israel Law, 5770-2010 and with the recommendation of the Governor of the Bank of Israel.

Dr. Flug completed her M.A (cum laude) at the Hebrew University in 1980 and her Ph.D. in Economics at Columbia University in 1985.

In 1984, Dr. Flug joined the IMF as an economist. In 1988, she returned to Israel and joined the Research Department of the Bank of Israel, where she worked and published papers on topics related to the labor market, balance of payments and macroeconomic policies.

In 1994-1996, while on leave from the BOI, Dr. Flug worked at the Inter-American Development Bank as a senior research economist. In 1997, upon return to the BOI she was appointed Assistant Director of the Research Department and in June 2001 she was appointed Director of the Research Department and a member of the BOI’s senior management.

Dr. Flug has served on a number of public committees, including the committee on a multi-year defense budget (the “Brodet” committee); the committee aimed at ensuring the long term financial stability of the National Insurance Institute; the committee aimed at enhancing competition within the Israeli markets; the committee for social and economic change (the “Trajtenberg” committee), and several others. ​

(YWN – Israel Desk, Jerusalem)