In the first months, we saw the collapse of trade in many countries, affecting the entire global economy. Today, however, we do observe this decoupling as countries in the West, of all places – the destinations of most of Israel’s exports – have encountered difficulties.
The Bank of Israel began writing a document describing how the crisis was confronted and how its lessons were learned, and next year the Bank will be organizing an international conference of central banks on the lessons of the crisis.