The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
Israel is on the threshold of a marked improvement in economic performance. Passage of a revised Bank of Israel law along the lines recommended by the Levin Commission and endorsed by the Bank of Israel should be achieved as soon as possible. Continued vigilance regarding real exchange rate trends, conditions of access to international capital markets, and the health of the banking sector is essential. The government is to be commended for its success in liberalizing Israel's foreign trade and capital accounts.