Jacob Frenkel, a former Bank of Israel chief and ex-chair of JP Morgan Chase International, warned overseas investors were looking to withdraw funds from Israel due to ongoing political turmoil and uncertainty over the coalition’s judicial overhaul plans going ahead.
In an interview Friday with Channel 12 news, Frenkel described a “very sad story” in which Israel’s economic reputation has taken a hit, saying investors once “stood in line” to understand the “recipe” for the country’s success.
Read More : Former Bank of Israel Head Warns of Investors Pulling Funds Amid Overhaul Turmoil