TEL AVIV - The Israeli Association of Public Traded Companies called on the central bank to be the “responsible adult” and starting buying corporate bonds and shares to alleviate a liquidity crisis stemming from the coronavirus outbreak.
Ilan Flato, chief executive of the organization, said this is one of the worst crises ever in the global economy and Israel’s government is not doing enough to steady capital markets and address liquidity problems. This could lead to the collapse of dozens or hundreds of companies, he said.
“The Bank of Israel must be the responsible adult and start intervening in the corporate bond and stock markets,” said Flato, whose organization represents hundreds of public firms in Israel.