- Yitzhak Moda'i
Date of birth =
17 January 1926
Year of Aliyah =
Date of death =
22 May 1998
Knesset(s) = 8th, 9th, 10th, 11th, 12th
Party = New Liberal Party
Former parties =
Gov't roles = Minister of Energy & Infrastructure
Minister of Communications
Minister without Portfolio
Minister of Finance
Minister of Justice
Minister of Economics & Planning
Yitzhak Moda'i ( _he. יצחק מודעי, born
17 January 1926, died 22 May 1998) was an Israeli politician, who served five terms in the Israeli Knessetfor Likudand then the New Liberal Party over the course of a 20 year career.
Moda'i was a member of the now-defunct Liberal Party, which later merged into the
Likud. He was a member of several Likud cabinets, and served as a Minister without Portfolio, Communications Minister, Finance Minister, Justice Minister and Energy and Infrastructure Minister. He is best known for the 1985 economic stabilization plan that managed to curtail Israel's hyperinflationof the early 1980s, which he, as Finance Minister, devised together with then-Prime Minister Shimon Peres. [ [http://www.jewishsf.com/content/2-0-/module/displaystory/story_id/8744/edition_id/166/format/html/displaystory.html Yitzhak Moda'i, 20-year veteran of Knesset, 72] ] Thanks to the plan, the Israeli economy averted total collapse and inflation was reduced from an annual rate of almost 450% to less than 20% in less than two years. This plan has become a model for other countries facing similar economic situations.
In 1990 he and four other MKs (all of them former members of the Liberal Party) broke away from Likud to form the "Party for the Advancement of the Zionist Idea", later renamed the "New Liberal Party". The party failed to cross the electoral threshold in the 1992 elections and Moda'i lost his seat.
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