Tax Authority suggests canceling banknotes; Bank of Israel opposes cash restriction
1 report, 1 independent
Updated Oct 20
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Tax Authority Director Adv. Shay Aharonovitz presented a grim forecast for 2027-2028, predicting a
From jpost.com
Why it matters
Aharonovitz suggested taking hard measures, including the potential cancellation of banknotes, to combat the black economy. The Bank of Israel opposes this measure, stating that no professional basis for canceling any banknote has been presented to the Governor.
From jpost.com
Who's involved
- Bank of IsraelThe central bank of Israel
- Amir YaronGovernor of the Bank of Israel
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Bank of Israel's cash debate may affect West Bank economyBoI's policy debate over cash could impact West Bank liquidity and currency stabilityPossible
- Smotrich may use BoI's cash cancellation dispute for political criticismSmotrich may use BoI's cash cancellation dispute for political criticismPossible
- Israel's economic gloom may increase IMF advice needsIsrael's economic gloom may increase IMF advice needsPossible
- Increased demand for financial news coverage could benefit GlobesIncreased demand for financial news coverage could benefit Globes.Possible
- Manufacturers association may face uncertainty amid grim economic outlookGrim economic forecast and fiscal disputes may increase uncertainty for manufacturersPossible
Keep exploring
The entities involved
-
Bank of Israel
The central bank of Israel