ank of Israel Governor Stanley Fischer was named the world’s best bank governor for 2010 by the Euromoney magazine on Sunday.
Fischer received the award at a reception at the Willard Intercontinental hotel in Washington, D.C., during a World Bank and International Monetary Fund conference.
The magazine gave the award to Fischer in recognition of his leadership of Israel’s economy in the wake of the global economic crisis.
The magazine praised Fischer’s success in finding the optimal balance of a recession with inflation, and his support of Israel’s economic recovery.
“Israel’s stamina in a time of financial crisis and its aftermath prove that Fischer is worthy of the respect he gets from the financial community,” the magazine said.
The magazine praised Fischer’s decision in September 2009 to make Israel the first country to raise interest rates following the financial crisis.
The magazine highlighted Fischer’s involvement in the foreign currency trade.
The magazine also noted that Fischer’s policies contrubuted to Israel’s acceptance into the Organization for Economic Cooperation and Development this past May.