Israeli government approves Flug as central bank governor

Reuters
Newly appointed Bank of Israel Governor Flug gives a statement to the media in Jerusalem
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Newly appointed Bank of Israel Governor Karnit Flug gives a statement to the media outside the Bank of Israel building in Jerusalem October 20, 2013. REUTERS/Ronen Zvulun

JERUSALEM (Reuters) - Israel's government on Sunday approved the appointment of Karnit Flug as the new governor of the Bank of Israel.

Flug, 58, who has been acting governor since her predecessor Stanley Fischer stepped down in June, was chosen on October 20 to officially take over as head of the central bank, ending a rocky nomination process.

She was quickly sanctioned by a vetting panel, but the decision still required formal government approval.

"The government unanimously approved the appointment of Dr. Karnit Flug as the governor of the Bank of Israel," Prime Minister Benjamin Netanyahu's office said in a statement that came as the cabinet held its weekly meeting.

The statement quoted Netanyahu as saying: "Karnit Flug has the right background and experience and she has performed very well in her post over the past several months."

(Reporting by Ari Rabinovitch; editing by Andrew Roche)

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