Bar-On meets with IMF

In a meeting with representatives of the agency, Bar-On said controlling the government deficit and boosting growth were the engines for reducing the debt to GDP ratio.

Finance Minister Ronnie Bar-On reassured representatives of the International Monetary Fund on Wednesday that the government was committed to fiscal responsibility, and was cutting both government spending and the budget deficit. In a meeting with representatives of the agency, Bar-On said controlling the government deficit and boosting growth were the engines for reducing the debt to GDP ratio. The IMF delegation, which started its two-week annual visit to Israel at the end of last month, is meeting with leading figures in Israel's public and private sectors, including Bank of Israel Governor Stanley Fischer and senior officials from government ministries, banks, the Manufacturers Association, the Histadrut and academics. At the end of its visit to Israel, the mission will submit its initial country report to Bar-On and Fischer. This will be followed by the detailed annual report compiled in Washington, which will be submitted to the IMF's executive board, as occurs with every member country of the IMF.