Israel’s Parliament gave a first reading today to a bill providing for continued control of foreign currency until January 1966 by the Israel Finance Ministry with passage assured.
Finance Minister Levi Eshkol, in asking for the extension of finance regulations, anticipated critics by asserting that currency controls were still in effect in countries more economically entrenched than in Israel. He added that controls were still needed despite increased Government holdings of foreign currency.
The first reading took place over objections of the Liberal and Herut parties. After the measure is formulated in committee, it will be submitted again to the Knesset for two formal readings which are certain of approval.
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