Stanley Fischer

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Stanley Fischer, Governor of the Bank of Israel

Stanley Fischer (Hebrew: סטנלי פישר, Arabic: ستانلي فيشر) is an economist and the current Governor of the Bank of Israel.

Born in Zambia on 15 October 1943, he obtained his B.Sc. and M.Sc. at the London School of Economics from 1962-1966 and his Ph.D. at MIT in 1969, all in economics. He was a professor at MIT from 1977 to 1988, where he authored two popular economics textbooks: Macroeconomics (with Rudiger Dornbusch and Richard Startz) and Lectures in Macroeconomics (with Olivier Blanchard).

From January 1988 to August 1990 he was Vice President, Development Economics and Chief Economist at the World Bank. He then became the First Deputy Managing Director of the International Monetary Fund, from September 1994 until the end of August 2001. After leaving the IMF, he served as Vice Chairman of Citigroup, President of Citigroup International, and Head of the Public Sector Client Group. Mr. Fischer worked at Citigroup from February, 2002 to April, 2005.

He became Governor of the Bank of Israel on May 1, 2005. On the 9 January 2005, it was announced that Mr. Fischer has agreed to become the next governor of the Bank of Israel, after being nominated by Prime Minister Ariel Sharon and Finance Minister Benjamin Netanyahu. Mr. Fischer has, according to Israeli press, basic knowledge of Hebrew and close ties to Israel. He has been involved in the past with the Bank of Israel, having served as an American government adviser to Israel's economic stabilization program in 1985. Mr. Fischer has become an Israeli citizen, having exercised his right as a Jew to do so under the Law of Return, the aforementioned action being a prerequisite to this appointment. The US says he will not have to forego his American citizenship in order to assume the role. He replaced David Klein, who ended his term as governor of the Bank of Israel on January 16.

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Preceded by Anne Krueger	World Bank Chief Economist 1988–1990	Succeeded by Lawrence Summers

Preceded by David Klein	Governor of Bank of Israel 2005	Succeeded by present