The British Financial Times newspaper revealed that Israel has borrowed $6 billion in recent weeks through privately negotiated deals to help finance its war on the Gaza Strip.
The newspaper pointed out that Tel Aviv had to pay unusually high borrowing costs to complete these deals.
The newspaper quoted investors as saying that the recent bonds were issued under so-called private placements, a process through which the securities are not offered on the public market, but are instead sold to selected investors.
Investors explained that this may be because money for the war effort was raised quickly or without attracting unwanted attention, and could be a sign of how wary some investors have become about buying Israel’s debt.
Israel is considering reducing the number of reserve forces in the army who were called up for the war on the Gaza Strip, due to the high economic cost, according to what the Israeli Broadcasting Corporation reported.
The (official) authority said yesterday, Friday, that the Israeli security service is studying the possibility of reducing the number of reserve forces that were called up with the outbreak of the current war and demobilizing part of its force.
She added that this comes due to the high economic cost and damage to the country’s economy resulting from the absence of members of those forces from their homes and workplaces.
The authority said that the direct cost of reserve soldiers’ salaries is about 5 billion shekels ($1.3 billion) per month, in addition to the cost of losing working days for these soldiers, and it is estimated at about 1.6 billion shekels ($427 million).
The figures show that Tel Aviv is suffering huge economic losses due to the war it is waging on the Gaza Strip. Most indicators have collapsed, from the stock market to real estate and banks, in addition to the decline of the shekel, the labor market, and the performance of technology companies.
For 43 days, the Israeli army has been waging a devastating war on Gaza, leaving more than 12,000 martyrs – most of them women and children – in addition to about 30,000 injured and massive destruction of residential neighborhoods, vital facilities, and hospitals.
#Financial #Times #Israel #borrows #billion #due #war #Gaza
2023-11-18 01:21:17
