Moody’s issues warning about Israel’s judicial reform
The credit agency is one of several institutions to warn the controversial reform could hurt the Israeli economy.
A leading credit rating agency said Tuesday that Israel’s controversial judicial reform bill could hurt the country’s economy, debt rating and attractiveness for investment.
Moody’s released a report on the Israeli government’s efforts to reform the country’s judiciary. Prime Minister Benjamin Netanyahu’s Cabinet is seeking to reduce the Supreme Court’s power to overturn legislation and apply stronger political control over judicial appointments. Much of the Israeli public is against the proposal, believing it will hurt Israeli democracy. The Israeli right has long held the court in contempt for blocking its plans, and Netanyahu believes the reform will help reflect the popular will.
The legislation is still being debated in the Knesset.
The reform could hurt Israel’s credit rating and ability to attract investment, according to Moody’s.
