Session I: Israel and international experiences with rules-based fiscal frameworks
Chairperson: Manmohan Singh Kumar, Assistant Director FAD, (IMF)
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| 9:00-9:20 |
International experience and lessons: design issues. |
George Kopits, Chair of the Fiscal Council - Hungary |
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| 9:20-9:40 |
Israel's case: what has been done and what are the lessons learned? |
Adi Brender, Head of Public Sector Section, Research Department, BoI |
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| 9:40-10:00 |
Q & A |
| 10:00-10:30 |
Coffee |
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Session II: Looking ahead : Context for fiscal rules in Israel
Chairperson: Ram Belinkov, Director, Budget Department, MoF
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| 10:30-10:50 |
Economic context: spillovers and vulnerability |
Man-Keung Tang, Economist, European Department, IMF |
|
| 10:50-11:10 |
Political context: How does the political context in Israel constrain which fiscal rules are best? |
Yarom Ariav, Director General, MoF |
|
| 11:10-11:30 |
Q & A |
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Speech by the Governor of the Bank of Israel
|
| 11:45-12:15 |
"What does monetary policy need from fiscal rules in Israel now?" |
Stanley Fischer, Governor, BoI |
|
| 12:15-14:00 |
Luncheon |
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Session III: How can fiscal rules and procedures best balance short-term fiscal flexibility with long-term fiscal credibility in Israel, in the current global context ?
Chairperson: Peter Doyle, IMF Mission Chief for Israel
|
| 14:00-14:20 |
How are international rules-based fiscal systems tackling this trade off, and how should they do so? |
Manmohan Singh Kumar Assistant Director FAD, IMF |
|
| 14:20-14:40 |
Proposals from the MoF |
Eldad Shidlovsky, Deputy Director General for Macroeconomics, MoF |
|
| 14:40-15:00 |
Proposals from the Bank of Israel |
Karnit Flug, Director, Research Department, BoI |
|
| 15:00-15:20 |
Proposals from the Prime Minister's Office |
Manuel Trajtenberg, Head of the National Economic Counsel, Prime Minister's Office |
|
| 15:20-15:40 |
Q & A |
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Session IV: What practical administrative procedures are needed to operate fiscal rules?
Chairperson: Singh Kumar, Assistant Director FAD, IMF
|
| 16:00-16:15 |
International experience and lessons: practical issues. |
George Kopits, Chair of the Fiscal Council - Hungary |
|
| 16:15-16:30 |
Constraints of administrative capacity in Israel - and what steps could ease these constraints soon? |
Eyal Epstein, Deputy Director, Budget Department, Macroeconomics, MoF |
|
| 16:30-16:40 |
Q & A |
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Session IV: What practical administrative procedures are needed to operate fiscal rules?
Chairperson: Singh Kumar, Assistant Director FAD, IMF
|
| 16:50-17:50 |
What is the way forward for fiscal rules in Israel now? |
Yarom Ariav, Director General, MoF
Manuel Trajtenberg, Head of the National Economic Counsel, Prime Minister's Office
Manmohan Singh Kumar Assistant Director FAD, IMF
George Kopits, Chair of the Fiscal Council - Hungary
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|
| 17:50-18:00 |
Concluding remarks |
Peter Doyle, IMF Mission Chief for Israel |
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