Israel’s finance minister Betzalel Smotrich defined the fact of downgrading Israel’s credit rating by Moody’s as “‘politicized and unreasonable”. “Moody's announcement on the downgrade does not include serious economic arguments and is entirely a political manifesto,” the minister commented on the decision of the US-based Moody’s rating agency.
This move is “based on a pessimistic and unfounded geopolitical worldview, which reflects a lack of confidence in Israel’s security and national resilience, as well as an apparent lack of confidence in the righteousness of its path in the face of enemies,” Jerusalem Post cited the statement of the finance minister.
On February 9, Moody's downgraded Israel's foreign-currency and local-currency issuer’s ratings to A2 from A1, five notches above investment grade. The agency maintained a negative credit outlook on the back of the lingering war with the Palestinian militant group Hamas. Israel’s authorities gave an angry response. “The Israeli economy is strong by all measures. It is capable of sustaining all war efforts, on the front line and home front, until, with God’s help, victory is achieved,” Betzalel Smotrich said.
