Netanyahu and Amir Yaron
Netanyahu and Amir YaronAmos Ben Gershom/GPO

Prime Minister Binyamin Netanyahu met today (Tuesday) with Bank of Israel Governor Prof. Amir Yaron amid reports that Israel's credit rating following the implementation of Justice Minister Yariv Levin's proposed judicial reforms.

The meeting, which was defined as urgent, took place against the background of the strike in the high-tech industry and also the warnings of former Bank of Israel governors and officials who expressed their concern over the judicial reforms.

Channel 12 News reported that Prof. Yaron, who returned from the economic conference in Davos, told the Prime Minister that the representatives of the credit rating companies expressed interest and concern about the possible results of the legal revolution in Israel.

According to the report, Yaron explained to Netanyahu what the consequences of a credit rating downgrade might be.

Netanyahu did not express in the meeting a willingness to back down from his intention to pass the judicial reforms, but several ideas came up during the meeting to reassure the rating agencies.

At the end of the meeting, it was reported that "During the meeting, the Governor reviewed the state of the Israeli economy and the challenges facing it, both locally and from an international perspective. The Governor submitted to the Prime Minister a plan for an economic strategy formulated at the Bank of Israel, which includes policy recommendations in a variety of areas, and discussed with him various issues." .

It was also reported that "Governor Yaron relayed to the Prime Minister various issues that arose in the Israeli context in the discussions he held with the senior officials of the global economy and with the senior officials of the rating companies in recent weeks."