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Karnit Flug

Biography

Karnit Flug was appointed Governor of the Bank of Israel by the President of Israel on 13 November 2013.

Dr Flug received her MA in economics from the Hebrew University of Jerusalem in 1980, and her PhD in economics from Columbia University in 1985. In 1984 she joined the International Monetary Fund as an economist, then returned to Israel in 1988 and joined the Research Department of the Bank of Israel, where she worked on and published papers on topics including macroeconomics, the labour market and social policies. From 1994 to 1996, while on leave from the Bank of Israel, Dr Flug worked at the Inter-American Development Bank as a senior research economist. In 1997 she returned to the Bank of Israel and was appointed Deputy Director of the Research Department, then Director of the Research Department and a member of the Bank’s senior management in June 2001, a position she held for ten years. Following this, she was appointed Deputy Governor of the Bank of Israel by the Israeli Government in July 2011. From July 2013 until November 2013 she served as Acting Governor of the Bank of Israel.

Dr Flug has served on a number of public and government committees, including the Committee on Increasing Competitiveness in the Economy, the Committee for Social and Economic Change (“the Trajtenberg Committee”), the Committee for the Assessment of the Defense Budget (“the Brodet Committee”) and the Committee to Study Raising the Retirement Age for Women.