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Finance Ministry officials to 'Post': Moody's rating drop was premature, a step too far

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Finance Ministry officials to 'Post': Moody's rating drop was premature, a step too far

Ratings agency Moody’s “went one or two steps too far” and were “very conservative” in their downgrade of Israel’s rating late last month, senior officials within the Finance Ministry’s Accountant General Department told The Jerusalem Post.

“We respect Moody’s, and the government should listen carefully and address the relevant comments. However, our professional stance is that, at the very least, Moody’s has taken [it] one notch too far at this time,” they said.

The downgrade dropped Israel by two notches, from A2 to Baa1—the country’s lowest score ever—and maintained a negative outlook for its rating.

“A major part of what the credit rating should represent is […] the ability of the country to repay its foreign currency debt,” the officials explained, adding that Israel’s “ability to repay foreign currency is very strong.”

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Israel has had a surplus of more than 5% in the current account for 20 years, the officials said, adding that this is “fairly structural,” as the country exports more than it imports typically.

A Moody’s sign on the 7 World Trade Center tower is photographed in New York August 2, 2011. (credit: REUTERS/MIKE SEGAR)

They added that the Bank of Israel also holds “the highest ever reserve of foreign currency,” which is nearly four times as high as the external debt, showing Israel’s strong ability to repay foreign debt.

The officials said that senior economists believe that, in some sense, Moody’s treated a “worst-case scenario” as the “main-case scenario.”

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This means that they made the assumption that “the country’s economic recovery will be very long and that the debt-to-GDP ratio will grow substantially.”

Officials believe scenario is ‘exaggerated’

While this scenario is legitimate, “we think it is exaggerated,” the officials told The Jerusalem Post, adding that they think it is premature to make the assumptions made in Moody’s base case.

“As long as there is a good and responsible budget here that is aimed at growth, and the security situation improves, we can expect a more rapid rebound in the economy.”


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Tel Aviv University Prof. Dan Ben-David, who heads the socioeconomic research center Shoresh Institution, highlighted the uncertainty surrounding Israel’s economy despite the confidence projected by Finance Ministry officials.

“Just a glance at last week’s major revision by [Israel’s] Central Bureau of Statistics – its third downward revision of GDP – gives a pretty good idea about how little we actually know with regard to the actual severity of the situation, which is continuously being revised downward,” he said.

“We are in mid-October, and the government is only now beginning to contemplate the budget for next year while our finance minister is MIA. Given his comments and areas of focus, that is probably for the better, as incredulous as that might seem given the gravity of the moment we are in.”

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Earlier this month, Bank of Israel Governor Professor Amir Yaron highlighted the importance Moody’s rating, which could impact Israel regardless of whether or not it was premature or exaggerated.

“It is important to pay attention and take the assessments of the rating agencies seriously, as they reflect the challenges and risks faced by the Israeli economy as the world sees it,” Yaron explained.



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One.funding and MV Commercial launch MV Asset Finance

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One.funding and MV Commercial launch MV Asset Finance

One.funding has partnered with UK-based MV Commercial to introduce MV Asset Finance, which offers an alternative method for MV Commercial’s customers to secure finance, according to a LinkedIn post.

In developing MV Asset Finance, representatives from One.funding worked closely with MV Commercial’s team to better understand business priorities and the requirements of their customer base.

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According to the post, the service aims to remove friction, ensure complete transparency, and enable a seamless process from initial engagement to completion by integrating support within MV Commercial’s operations and presenting it under their brand.

MV Commercial supplies fleet solutions for vehicles within the UK.

The company’s offerings include trucks, trailers, and light commercial vehicles that are available for sale, rental, or contract hire.

Its current rental and Ready to Go fleets consist of 2,000 specialist trucks, vans, and trailers across various depots in Airdrie, Grantham, Livingston, Oxford, Haydock, and London Luton.

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One.funding CEO Lee Schofield said: “At One.funding, we’ve 20 years of experience in building point-of-sale finance that fits naturally into how businesses sell. MV Asset Finance shows what’s possible when that experience is embedded into the MV Commercial journey, making it easier for their customers to keep moving and keep growing.”

A recent example involved AMK Plant & Tipper Hire, which added a DAF FAD XD450 Construction eight-by-four tipper truck to its fleet, the company’s first DAF tipper purchase.

The transaction was finalised in three weeks; MV Commercial supplied the vehicle while financing was arranged through the newly launched MV Asset Finance framework.

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RFSD board approves financial assurances, reviews annual audit

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RFSD board approves financial assurances, reviews annual audit

The Roaring Fork School District Board of Education approved its annual financial accreditation assurances and reviewed the district’s 2024-25 audited financial statements during its meeting on Wednesday, according to a district news release.

The audit, presented by McMahan and Associates, found the district’s overall financial position to be stable and identified areas for continued improvement in internal controls and financial processes. The district’s General Fund balance remains above minimum levels required by board policy.

Chief Financial Officer Christy Chicoine said the audit reflects progress following prior concerns identified in earlier reviews.



“We have made significant improvements compared to the prior year’s audit as a Finance Department, and I am grateful for the finance team’s commitment towards those improvements as demonstrated in this audit,” Chicoine said. “While we still have work to do to continue to sustain and enhance the district’s fiscal management, the audit report indicates we are clearly headed in the right direction.”

Superintendent Anna Cole said the findings validate work undertaken over the past two years to rebuild internal systems and improve transparency.

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“Over the past two years, our teams have worked diligently and transparently to rebuild internal financial systems that left the district at risk,” Cole said. “The outcomes of this audit are evidence that we are on track.”

Cole said the timing of the audit is significant as the district begins developing its budget for the 2026-27 school year and faces mounting external pressures.

“We couldn’t have stabilized internal systems at a better time,” she said. “As we begin the budgeting process for the 26/27 school year, we face external challenges like declining enrollment, instability of state and federal funding, and a rising cost of living that is outpacing staff and teacher salaries. This audit is an important confirmation that our finances are in order as we prepare to navigate oncoming challenges.”

Board President Lindsay DeFrates said the board is better positioned to plan ahead following the audit’s conclusions.

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“We are grateful for the leadership of Chief Chicoine and the hard work of the district finance and human resources teams,” DeFrates said. “We are now in a much better place financially and will move forward with clarity, transparency and accountability, able to better navigate the challenges to come.”

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UK’s Former Finance Minister George Osborne Joins Coinbase – Coinspeaker

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UK’s Former Finance Minister George Osborne Joins Coinbase – Coinspeaker

Key Notes

  • Former UK finance minister George Osborne is joining Coinbase’s Global Advisory Council.
  • Osborne will focus on crypto regulation, stablecoins, and tokenized assets across the UK and EU.
  • The exchange is also expanding beyond crypto trading as it steps into 2026.

Coinbase has appointed former UK finance minister George Osborne as chair of its Global Advisory Council. It is clear that the American crypto exchange wants to deepen its influence with governments outside the United States.

Earlier this week, Coinbase tested the waters in India as its deal to acquire a minority stake in local crypto trading platform CoinDCX was approved by the Competition Commission of India.


https://twitter.com/CCI_India/status/2000905244080034292

Coinbase Expands Policy Reach Beyond the US

Coinbase confirmed that Osborne will take a more active role in advising on government engagement worldwide, with a focus on Britain and the European Union.

Osborne, who first joined Coinbase as an adviser in January 2024, will be based in London. He will work closely with policymakers on issues related to crypto regulation, stablecoins, and tokenized assets.

Coinbase’s chief policy officer Faryar Shirzad said the crypto exchange has already become a powerful lobbying force outside the US. In the UK, the company is pushing for clearer rules on tax treatment, stablecoin payments, and the use of tokenized assets in capital markets.

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Osborne’s Background

Osborne served as the UK’s finance minister from 2010 until 2016, stepping down after the Brexit referendum. Since leaving politics, he has built a broad private-sector portfolio.

He currently chairs the British Museum, is a partner at investment bank Robey Warshaw, and leads Lingotto Investment Management.

Just days before the Coinbase announcement, OpenAI named Osborne to support its overseas data centre expansion under its global infrastructure program. His appointment to Coinbase adds crypto and blockchain policy to an already wide-ranging list of responsibilities.

Expansion Across Crypto

According to an earlier report, at its recent System Update event, Coinbase revealed plans to expand into stock trading, prediction markets, custom stablecoins, tokenization platforms, and AI-powered investment advisers.

Coinbase has already launched stock trading and prediction markets on its platform and now rivals firms such as Robinhood and eToro. The exchange has also partnered with Kalshi to offer markets tied to real-world events such as sports, elections, and economic data.

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The exchange’s long-term goal is to become an all-in-one financial platform that operates around the clock.

Meanwhile, Deutsche Bank recently initiated coverage with a buy rating, according to CNBC. Analysts expect the company’s broader new everything-in-one strategy to reduce its dependence on crypto trading volumes as it scales into 2026.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Coinbase News, Cryptocurrency News, News

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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

Parth Dubey on LinkedIn


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