Place Field Services Israel
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Economy Overview:
Israel has a technologically advanced market economy with substantial
government participation. It depends on imports of crude oil, grains,
raw materials, and military equipment. Despite limited natural
resources, Israel has intensively developed its agricultural and
industrial sectors over the past 20 years. Israel imports substantial
quantities of grain, but is largely self-sufficient in other
agricultural products. Cut diamonds, high-technology equipment, and
agricultural products (fruits and vegetables) are the leading exports.
Israel usually posts sizable current account deficits, which are covered
by large transfer payments from abroad and by foreign loans. Roughly
half of the government's external debt is owed to the US, which is its
major source of economic and military aid. The bitter
Israeli-Palestinian conflict; difficulties in the high-technology,
construction, and tourist sectors; and fiscal austerity in the face of
growing inflation led to small declines in GDP in 2001 and 2002. The
economy rebounded in 2003 and 2004, growing at a 4% rate each year, as
the government tightened fiscal policy and implemented structural
reforms to boost competition and efficiency in the markets. In 2005,
rising consumer confidence, tourism, and foreign direct investment - as
well as higher demand for Israeli exports - boosted GDP by 4.7%
Requirements:
- Instructions / authority to proceed with negotiated settlement on the company letterhead.
- Full details of the debtor/s and a summary of how the debt was incurred.
- The amount owing, and the particulars of how it is arrived at.
- Other supportive documentation such as invoice, bill of lading etc.
- Copy of demands made by your company for payment, and copy of any correspondence from the debtor/s that is held on file.
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