Moody’s has downgraded Israel’s sovereign credit rating from A1 to A2 for the first time in history, citing uncertainty about the timing and manner of ending the war, the impact of the war on economic and social problems, and changes in fiscal situation as reasons. The chairman of Bank of Israel, Professor Amir Yaron, responded to the decision by emphasizing that Israel has a strong macroeconomic and monetary framework and is resilient to crisis situations. However, he noted that uncertainty about developments on the northern border is a major reason for maintaining a negative outlook. To address concerns raised in Moody’s report, Yaron urged the government and Knesset to take measures to tackle economic issues. Despite this setback, Yaron expressed confidence in the strength of Israel’s economy and its ability to recover quickly.
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