57 The Israeli Ministry of Finance recently conducted its first international dollar bond sale since the outbreak of the conflict in Gaza, generating a total of $8 billion. This move aligns with ongoing financial challenges faced by the country. According to the Israeli economy-focused Globes website, demand for the offering soared to $38 billion, marking a record high for a State of Israel international bond issue. Following the outbreak of the conflict in Gaza, Israel has concentrated on raising funds domestically to finance the war, primarily through local Israeli bonds. However, the country’s debt has escalated significantly since the conflict began. The Ministry of Finance Accountant-General’s debt-raising efforts have increased from approximately NIS 1.5-2 billion per week to NIS 3.5-4 billion weekly. Israel is anticipated to raise over NIS 200 billion to cover the expenses incurred by the conflict. While the Ministry of Finance initially emphasized domestic market debt collection, Bloomberg estimates that more than $10 billion will be raised globally. Moody’s, a credit rating agency, recently downgraded Israel’s foreign-currency and local-currency issuer ratings to A2 from A1 on February 10. You Might Be Interested In Algerian President Approves Optimistic 2024 Finance Bill, Anticipating Robust Economic Growth African Development Bank Partners with Attijariwafa Bank Europe in €100 Million Risk-Sharing Agreement to Boost African Trade Cyber Monday Projected to Hit $12.4 Billion in Online Sales Kuwaiti Banking Sector’s Strategic Imperatives for Success Amid Global Economic Volatility Nelson Peltz Pushes for Disney Board Seats China Aims for 5% Economic Growth Amid Global Challenges