Last updated: October 20. 2013 7:35AM - 401 Views
Associated Press



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(AP) Israel has appointed the country's deputy central bank chief, Karnit Flug, as the institution's next governor.


Prime Minister Benjamin Netanyahu and Finance Minister Yair Lapid announced their decision Sunday, after a months-long process in which two previous selections were forced to withdraw.


Flug would succeed former central bank chief Stanley Fischer. Flug, who was Fischer's deputy, has been leading the bank on an acting basis since he left his post in June after eight years on the job.


Netanyahu's office said in a statement that he and Lapid were "impressed" with how Flug has been functioning as acting bank chief and decided she could lead the economy through the "global economic upheaval."


Flug's appointment still needs government approval, a step that is largely procedural.


Associated Press
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