Finance Minister Bezalel Smotrich angrily dismissed the decision. The announcement “reflects a lack of confidence in Israel’s security and national strength, and also a lack of confidence in the righteousness of Israel’s path against its enemies,” he said in a statement from his office.
Why would a Moody’s rating take “the righteousness of Israel’s path” into account?
Because it will impact them economically, of course. People are less likely to invest in a country that is at risk of being sanctioned, whether “officially” or via unofficial boycotts.
People working in Israel reported half their workers not showing up because they had been recalled to serve in the army. Stuff like that doesn’t help for business.
They also revoked the work permits for hundreds of thousands of Palestinians, hence their agricultural and construction sector is struggling at the moment, and they need to import cheap labor force from other countries.
Plus the way they handle this war nothing good would ever come out of it.
Why would a Moody’s rating take “the righteousness of Israel’s path” into account?
He should be careful of what he wishes for because if they factored in “the righteousness of israel’s path” then the credit rating would be C.
Because it will impact them economically, of course. People are less likely to invest in a country that is at risk of being sanctioned, whether “officially” or via unofficial boycotts.
People working in Israel reported half their workers not showing up because they had been recalled to serve in the army. Stuff like that doesn’t help for business.
They also revoked the work permits for hundreds of thousands of Palestinians, hence their agricultural and construction sector is struggling at the moment, and they need to import cheap labor force from other countries.
Plus the way they handle this war nothing good would ever come out of it.
Your friendly reminder to check BDS targets, globally and in your country.