Among the many congratulatory calls which Jacob Frenkel, the incoming Governor of the Bank of Israel, received on Monday, was one from President Shimon Peres who told him that Israel does not have to look far for someone who can meet the many economic challenges confronting her, when she has one of her own to whom she can turn.
Peres thanked the Israel Prize laureate and BOI Governor designate for accepting the appointment and discussed with him some of the economic problems that Israel has to overcome. Peres, in his many previous positions has also served as finance minister.
The two men agreed that everything possible must be done to encourage economic growth and to create new employment opportunities that will contribute to the continuation of a stable economy.
Peres who is familiar with Frenkel's background and achievements expressed confidence that Frenkel would thrust his full professional energy into his new position and would be no less successful in the future as he has been in the past. "Your experience will help to boost the economy," Peres told Frenkel.
Apparently Frenkel's name had come up in conversations that Prime Minister Binyamin Netanyahu had with Peres, and Frenkel, who was aware of this knew that Peres was warmly in favor of appointing him. "Your recommendation helped me to make my decision," he said.