The World - News from Aug. 15, 1986
Secretary of State George P. Shultz has sent a letter to Israeli Prime Minister Shimon Peres suggesting wide-ranging reform of Israel’s economy, an Israeli Cabinet minister said. “(Shultz) said that stopping inflation was only a first step . . . and that what is needed now is a structural change in the economy,” Moshe Arens, minister without portfolio, told state television. The television, quoting from the letter, said Shultz recommended that Israel cut taxes, expand capital markets and sell government-owned firms.
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