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"Business and Employment Op-
portunities in Israel" will be the
focus of an international panel
discussion via satellite for indi-
viduals interested in working
or living in Israel, 2 p.m. Sun-
day, Feb. 27, at the Agency for
Jewish Education.
Sponsored locally by the
Michigan/Israel Connection and
the American Zionist Move-
ment, the two-way broadcast
will include experts in the fields
of busienss, economics, em-
ployment and investment.
Avraham Shochat, Israel min-
ister of finance, will open the
broadcast, which will include
Uri Gordan, director-general of
the Jewish Agency Aliyah (Im-
migration) and Klita (Absorp-
tion) Department. Viewers will
be able to ask questions of the
panelists via a live telephone
hook-up.
The program will be moder-
ated by Michael Greenspan, a
former CNN correspondent who
hosts the "Jerusalem On-Line"
cable TV show, which will re-
broadcast the program in the
following weeks.
Individuals in more than a
dozen communities will partic-
ipate in the interactive satellite
panel discussion. I I
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FEBRU AR Y
Israel's money supply and in-
flation surged in the last third
of 1993 as the agreement with
the PLO in August led to a
sharp turnaround in the stock
market, according to the Bank
of Israel report on the money
supply recently issued to the
cabinet and the Knesset finance
committee.
In a letter to the cabinet and
the finance committee, Bank of
Israel Governor Jacob Frenkel
warned that the sharp expan-
sion in the money supply could
threaten economic stability by
pushing prices up and draining
the country's foreign currency
reserves.
Mr. Frenkel noted that this
danger, together with the fact
that inflation in the last third
of 1993 was higher than the 10
percent targeted, drove him to
raise interest rates.
The M1 index, which repre-
sents cash and bank deposits,
grew 31 percent last year, while
the M2 - which also includes in-
terest-bearing shekel accounts
and deposits against the pur-
chase of securities - expanded
37 percent. M3, the broadest
money aggregate which in-
cludes index and foreign cur-
rency-linked deposits, grew 30
percent.
B53