This paper presents detailed assessment of Israel’s compliance with Basel Committee on Payments and Settlement Systems Core Principles for Systemically Important Payment Systems. A significant improvement in the payments landscape has been noted, with the high value payment system meeting most...

A technical note on the stress test of Israel’s banking, insurance, and pension sectors is presented. The Israel Financial Sector Assessment Program Update stress testing exercise comprises a comprehensive analysis of solvency and liquidity risks of key banking and insurance institutions....

Israel’s Report on Standards and Codes for the financial sector is presented. The authorities take a proactive approach to supervision and correcting incipient problems, and regulations are generally up to date. The assessment of implementation of the Basel Core Principles for Effective...

This paper discusses the Financial System Stability Assessment of Israel. The stability analysis suggests that systemic financial vulnerabilities to severe shocks in line with historical experience are manageable and in aggregate, buffers are at comparatively comfortable levels. The authorities...

This Selected Issues Paper states that Israel’s growth performance is impressive, with real GDP growing at a faster pace than many other OECD countries. The secular Jewish population enjoys a high level of living standards, whereas most Arab and Haredi people are poor, with poverty incidence...

This 2012 Article IV Consultation reports that Israel has emerged from the 2008–09 global crisis with strong economic growth, a resilient banking system, and unemployment at historic lows. Exports, at 40 percent of GDP, depend on global demand for high-technology products, such as electronics...

This paper reviews economic developments in Israel during the 1990s. The paper analyzes tax revenue shortfalls in 1995–97. The factors that have contributed to overruns in the budget deficit relative to its targeted level are examined. The analysis indicates that the main difficulty has...

Contents include: Budget deficit - concepts, measurements, and developments; definition, accounting basis, scope, and coverage. Structural reform issues: privatization; capital market reform; exchange and trade liberalization; other government intervention - investment subsidies and price...

This report analyzes the Israeli economy and its financial system in detail. A strong macroprudential framework is believed to be an effective tool in identifying in advance and extenuating threats that arise within the financial domain. It is also stated that the present fragile global economic...

Fiscal consolidation has become an important policy prescription for many emerging market countries (EMCs), particularly for the highly indebted ones. Although prudent fiscal policies tend to reduce vulnerabilities, their implementation is usually postponed. This paper represents, to the best of...