Dr. Karnit Flug
Dr. Karnit FlugFlash 90

Bank of Israel governor Karnit Flug has been selected as one of the seven best central bank heads in the world by Global Finance magazine, which puts out an annual ranking of bankers considered the most effective in steering their economies through rough waters.

Flug was one of seven bankers to get an A rating from Global Finance. Other bankers accorded the honor include the heads of the central banks of India, Switzerland, Saudi Arabia, the Philippines, and Taiwan.

US Federal Reserve chairperson Janet Yellen was not rated this year, as she just assumed the post in June. Her predecessor Ben Bernanke got a B+ in last year's ratings; Yellen is seen as largely continuing Bernake's policies.

Europe's central banker Mario Draghi retained his A- rating from last year, while China’s Zhou Xiaochuan got a B- rating, up from last year’s C.

Global Finance has been rating the central bankers of 70 countries since 1994, on a scale of A to F – just like in grade school - with bankers rated on how they deal with issues like controlling inflation, managing interest rates, currency stability, and achieving economic growth goals.

“Global economies are starting to recover, despite rising geopolitical risk in certain markets,” Global Finance publisher Joseph Giarraputo said in a press release. “Central bankers once again face challenging times in managing monetary policy to positively influence economic stability and growth, and some of the changes in our scores this year reflect those challenges."