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Fischer Taken to Hospital After Feeling Unwell

Outgoing Bank of Israel Governor is suffering from dehydration and exhaustion, says the Tel Hashomer Hospital.
By Elad Benari
First Publish: 6/26/2013, 1:14 AM

Stanley Fischer
Stanley Fischer
Hezki Ezra

Outgoing Bank of Israel Governor Stanley Fischer was taken to the Tel Hashomer Hospital on Tuesday evening, after he felt unwell in his Herzliya home and fainted.

Paramedics who were called to Fischer’s home took him to the hospital, where doctors determined that he was suffering from dehydration and exhaustion. Fischer will undergo a series of tests overnight and is likely to be released on Wednesday morning.

The Tel Hashomer Hospital noted that Fischer was in stable condition.

The Bank of Israel issued a statement on Tuesday night, saying, "Bank of Israel Governor Stanley Fischer felt unwell tonight. He was examined by a team of Magen David Adom paramedics at his home and then taken to Tel Hashomer, where he was examined and diagnosed to be suffering from dehydration and exhaustion. The Governor is now feeling well. He will stay overnight for observations and will be released tomorrow.”

On Sunday, it was announced that Jacob Frenkel will be replacing Fischer, who announced several months ago that he will be stepping down at the end of June as Bank of Israel Governor.

Frenkel served two terms as the Governor of the Bank of Israel between 1991 and 2000. He is credited with reducing inflation in Israel and achieving price stability, liberalizing Israel’s financial markets, removing foreign exchange controls, and integrating the Israeli economy into the global financial system.

Earlier on Tuesday, Fischer came to the Bank of Israel to say goodbye to its management and staff. Fischer praised Frenkel and said that his appointment was a good thing for the Israeli economy.

"All those who think that Frenkel will take different policies on interest rates and foreign exchange should remember that the economic environment in which we operated in recent years is very different than the environment which existed when Frenkel was governor,” said Fischer.