btiRbit JEWISH NEWS
Every Imaginable Style of
Israel takes steps to curb
country's economic crisis
Jerusalem (JTA) — In its
first initiative after the
elections to control the eco-
nomic crisis, the Ministerial
Economic Committee de-
/ cided to reduce the size of
government contracts sub-
stantially for the next three
months.
The committee also de-
cided on a freeze on the
number of government
workers. Finance Minister
Yigal Cohen-Orgad origi-
nally wanted a total freeze
on all new contracts, but
agreed to leave a margin of
25 percent of permissible
transactions, at the insis-
tence of other ministers.
All new contracts will
have to be approved by the
finance minister. The freeze
does not include food,
medicine and fuel. It covers
all ministries, including de-
fense.
Responding to the move,
Gad Yaacobi, head of the
Labor Alignment's eco-
nomic committee, said that
a transition government did
not have the mandate of the
people to institute such a
new economic program.
The government also
faced internal criticism.
Energy Minister Yitzhak
Modai, a long-time critic of
the government's economic
policy, charged that the de-
cisions were only marginal
relative to the massive eco-
nomic problems in Israel.
The treasury's move came
just as the Bank of Israel re-
leased "alarming" figures
on Israel's foreign currency
reserves. The reserves
dropped by $351 million last
month, the steepest one-
month decline in many
years. Economic experts in
Jerusalem said that the real
drop was even greater, since
the government had taken
out short-term loans to
cover part of the deficit.
Israel's foreign currency
reserves stood Aug. 1 at $2.6
billion, far below what is
considered by economists as
the critical level. The gov-
ernment also poured a re-
cord amount of money — 95
billion shekels — into the
economy last month.
Dr. Moshe Mandelbaum,
Bank of Israel governor, at-
tached to the figures a spe-
cial statement, warning
that Israel was facing a
grave economic situation.
Mandelbaum said that the
drop in the foreign currency
reserves was a warning sig-
nal that drastic action must
be taken promptly to im-
prove Israel's balance of
payments, simultaneously
with measures to curb the
inflation.
The drop of foreign cur-
rency reserves began in
February — $75 million.
After a few months of stabil-
ity, last June there was an-
other drop of $49 million.
The drop last month was
significantly high — which
made the Bank of Israel
sound the alarm.
Officials at the treasury
and the Bank of Israel gave
the following reasons for the
drop: Israeli businessmen
rushed to pay back dollar
loans earlier than
scheduled for fear of a large .
scale shekel devaluation;
importers rushed their ad-
vance payments; massive
purchases of foreign cur-
rency by individuals, also
for fear of devaluation; and
the payment of debts by the
government to the U.S. gov-
ernment.
Ruined religious articles buried
Jerusalem (JTA) — First and Second Temples in
Jewish residents of Hebron ancient Israel.
and Kiryat Arba in the
Thousands of pages torn
West Bank held funeral from prayerbooks, the
rites Tuesday, Tisha b'Av, Jewish Scriptures and other
for religious articles found Jewish holy books were
vandalized in the Hebron found by Jews last Friday,
flea market. Tisha b'Av is causing an uproar among
the annual day of mourning Jews residing in the
for the destruction of the heavily-Arab section. Police
IDF toll in Lebanon at 589
Tel Aviv (JTA) — Three
Israeli soldiers were
wounded Monday when an
explosive charge went off
under the vehicle in which
they were traveling near
the village of Ansariya
northeast of Tyre. The
change was detonated by a
remote control cable which
was set by terrorists who
hid in a bend in the road,
according to Israel Radio.
The radio report said it
was the 30th attack in the
past two weeks in this area
of south Lebanon, where
Shiite religious leaders
have been calling for a jihad
(holy war) against the Is-
raeli soldiers.
.An Israeli soldier was kil-
led and two others were
wounded Sunday in eastern
Lebanon when the vehicle
hit a mine. The soldier's
death brought the number
of Israelis killed since the
Lebanon war started to 589.
Last week, an IDF soldier
was killed and another
wounded in a grenade at-
tack in the .marketplace in
Nabatiya..
•
'
The two soldiers were in-
jured when a grenade was
thrown at their position
near the market, the army
said. One soldier died in a
hospital a short time after
the attack. His identity was
not immediately released
by the army.
In the four-month period
from April through July
there were 250 attacks
against Israeli forces. Most
of the attacks. and at-
tempted attacks have been
in the vicinity of Shiite vil-
lages in the Tyre
Nabatiya-Bekaa valley
triangle.
Meanwhile,
Israeli
helicopters raided a ter-
rorist base north of Tripoli
this week, the army an-
nounced. The base was a
training center for the dis-
sident Palestine Liberation
Organization faction led by
Abu Mussa. It was this
group which fought the PLO
groups which remained
loyal to Yassir Arafat and
which led to Arafat's expul-,
sion from Tripoli last year.
Fiiday, August i0, 1184 . 23
said there was no clear evi-
dence about the source of
the books or the defamers of
the holy writings.
When the discovery was
made, Jews began assembl-
ing the remnants, filling six
sacks before the Sabbath
began. The army closed off
the area in which the rem-
riants were found. No ar:
rests were made.
The Kiryat Arba commit-
tee, representing the all-
Jewish town near Hebron,
met to protest the desecra-
tion and ask for punishment
for the perpetrators. The
committee also warned
against the "deterioration
of the security situation in
the territories."
The remnants were
buried in the Jewish cemet-
ery in Hebron.
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