ISRAEL - Managed Pandemic Exceptionally Well

Arno Froese

The International Monetary Fund (IMF) said Israel has weathered the COVID-19 pandemic “exceptionally well” with a swift, efficient vaccination campaign and a rapidly recovering economy, but still faced “significant” risks to its 2022 outlook such as soaring housing prices and affordability.

In a briefing with Israeli journalists, IMF’s Mission Chief for Israel Iva Krasteva Petrova said the IMF expected “the recovery to firm up and continue in 2022” and that the organization sees “no long-term scarring effect from the pandemic.”

The Israeli government’s support and the Bank of Israel’s policies were “timely, ample, and well-executed,” she said.

The IMF report also said Israel’s efforts to reduce trade barriers would be “key to promote efficient allocation of resources, investment, and innovation,” and help boost competition and reduce costs.

The IMF welcomed Israel’s strengthened commitments to address climate change and the “significant progress” it has made “in developing policies to achieve their targets, including a gradual phase-in of excises on coal and other fuels between 2023–28 and a phase-out of coal energy production by 2025.”

The IMF said it was downgrading its forecast for the world economy in 2022, citing the spread of COVID-19’s Omicron variant, higher energy prices, an uptick in inflation and a deteriorating outlook for the world’s two biggest economies—the United States and China.

The financial institution now forecasts the global economy will expand 4.4% in 2022. That’s down from an estimated 5.9% last year and from the 4.9% the IMF was forecasting for 2022 back in October., 6 February 2022

Arno's Commentary

What becomes clearly evident is that the pandemic has significantly altered the financial structure of the world. It’s not merely a national, but an international issue. Based on recent history, we will soon learn that this was just a hiccup for the global economy and financial infrastructure. Nothing in the past or future will stand in the way of progress.

We repeat here that world unity, world peace, world prosperity, and world security must be established sooner or later. Why? Because the god of this world is fervently busy in using merchandise to unite the world more and more. But we emphasize it’s only temporary, because the great collapse will happen; namely, Armageddon.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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