Informed sources here said today that the new, American tight money policy on overseas spending, announced yesterday by President Johnson, will not affect Israel because it is considered a developing country.
However, some worry was reported over the possibility that tourism to Israel may be adversely affected by the new restrictions. American tourists have usually been about half of the tourists coming annually to Israel and, even in poor years, Americans represented 40 percent.
The possible effect on tourism was regarded with particular concern because this is Israel’s 20th anniversary year, and a record number of visitors had been expected. The United States decisions on credits were sent to David Horowitz, Governor of the Bank of Israel by William M. Martin, chairman of the Federal Reserve system.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
