Israel Should Issue Bonds in Run-up to Natural Gas Bonanza, Top Economist Says

Leumi's Chief Economist Gil Bufman says it’s time to act before Israel’s sovereign wealth fund from natural gas royalties starts operating in 2018.

To help bail out exporters stung by the appreciating shekel, Israel should securitize the profits from its natural gas royalties to buy dollars, Bank Leumi Chief Economist Gil Bufman said during a recent visit by an IMF delegation. This would be done through special bond issues.