BDO US & Israel Desk - Q1 Report 2023

Few could have predicted the stormy beginning the first quarter of 2023 provided, the failing of the largest American bank since 2008 and the Israeli government leading unprecedented judicial reforms amidst weekly large scale protests in major Israeli cities

While it appears that the US Federal Government has stepped in promptly to stem the tide of additional bank failures, rising interest rates and market uncertainty in the foreseeable future mean this may be the beginning of a global trend. 

In Israel, proposed reforms to the country’s Supreme Court by Prime Minister Netanyahu’s coalition 
government, have brought Israel into an unfamiliar spotlight. Analysts and decision makers around the 
world now openly question if Israel’s planned judicial reforms could weaken institutions and negatively 
impact its sovereign credit rating.

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