Israel’s $48 Billion War Bill Leaves Its Fate With Bond Markets
- Military costs force government to turn to debt for financing
- Borrowing assumes ‘several months of combat,’ Rothenberg says
Israeli soldiers return from the Gaza Strip on Nov. 22.
Photographer: Christopher Furlong/Getty Images
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When a team of Israeli technocrats that calls itself the “government’s CFO” scans the battlefield with the war against Hamas almost seven weeks in, it sees an accounting ledger with billions of debits stacking up.
Their job is to find the money to help pay for it all.