Netanyahu Adviser Kandel Won’t Replace Fischer at Bank of Israel

Israeli Prime Minister Benjamin Netanyahu’s top economic adviser Eugene Kandel won’t replace Stanley Fischer as the country’s central bank governor after Fischer steps down in June.

Kandel, who heads the National Economic Council, told Netanyahu that he would like to continue in his current position and that he isn’t a candidate for governor, according to an e-mailed statement from Kandel’s office today.

“Kandel stressed his desire to continue to lead the National Economic Council and help the prime minister and his government deal with the strategic challenges faced by the Israeli economy,” according to the statement.

Fischer announced last month he would step down in June after eight years as central bank governor. He has not yet announced what he plans to do next.