Shalom Life | July 28, 2014

Fischer Gets Unexpected Support for IMF Bid

Palestinian PM Fayyad calls Fischer a "superb human being."

By: David Shear

Published: June 12th, 2011 in Business » World

Fischer Gets Unexpected Support for IMF Bid

Stanley Fischer, Israel's central bank chief, has been given the nod of approval from an unexpected supporter, the Palestinian prime minister.

Fischer, who announced his candidcy for the head of the International Monetary Fund, is being called a "superb human being" and one that would make a "great managing director," by Salam Fayyad.

Although the Palestinian Authority does not participate in the selection process, Fayyad said that should he had a vote, he would have cast it for Fischer.

Fayyad, a former IMF offical, has known Fischer for for two decades, since the time the two of them worked together at the IMF.

Fischer was born in Zambia but holds an Israeli citizenship. He has held the top jobs at the World Bank and Citigroup Corp before taking on his current role at the Bank of Israel where he has helped make Israel one of the world's strongest economies per capita.

Despite the outstanding qualifications, Fischer has one major strike against him his age. Traditionally the IMF has not accepted candidates under 65 years old. Fischer is 67.

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