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Israel central bank chief quits to be with family

Wednesday - 1/30/2013, 7:56am  ET

Bank of Israel governor Stanley Fischer, speaks during a press conference in Jerusalem, Wednesday, Jan. 30, 2013. Fischer is resigning from his post in June, after being credited with maintaining the country's economic stability while the financial crisis pummeled countries around the world. Fischer's departure comes two years before the end of his second five-year term. (AP Photo/Sebastian Scheiner)

JERUSALEM (AP) -- The governor of Israel's central bank says he's stepping down to be closer to his family in the United States.

Stanley Fischer told reporters on Wednesday -- a day after he resigned -- that after eight years on the job he's achieved most of his goals. He says he is leaving behind a strong central bank and a strong economy.

Fischer is a former top executive at the World Bank and the International Monetary Fund. He is widely credited with steering the Israel's economy safely through years of world financial turmoil.

His departure comes two years before the end of his second five-year term. The 69-year-old says he has no other job waiting.

Fischer and his wife will return to the U.S. to be closer to their children and grandchildren.


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