After several months of assessing risks, debt portfolios and potential for growth, Moody’s lowered Israel’s credit rating from A1 to A2 over the weekend. The change in credit rating could scare away potential investors and will likely have a long-term effect on Israel’s economy generally and entrepreneurial sector especially.
A major controversy has been kindled domestically and internationally over a presumed IDF campaign in Rafiah in the near future. The cramped quarters and risk of civilian casualties have led to concern and criticism from the UN, EU and even the US. Israel said that as they have done in the past, they will open a humanitarian corridor out of the fighting zone.
Even in Israel there are concerns about the looming campaign. Egypt has long opposed Israeli operations in the area and Egyptian cooperation is paramount. Egypt also threatened Hamas this morning, telling the Gaza-based group that unless it agreed to a reasonable deal to release the hostages, Israel would begin the operation in Rafiah within two weeks.
Hizballah fired a heavy barrage on northern Israel over the weekend. Sirens sounded in numerous civilian communities throughout the Galilee and Golan regions of northern Israel several times throughout Thursday, Friday and Saturday, including in Kiryat Shmona, the Golan’s largest city.
In keeping with his continued and shocking inability to recognize Hamas for what it is, the UN Secretary General over the weekend equated Hamas’ massacre to Israeli military actions in Gaza.
Please pray for stability for Israel’s economy. Please pray for continued international support – not least from Egypt – in regards to a potential military campaign in Rafiah. Lastly, please pray for protection over Israeli civilians and soldiers under fire.
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