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The Indiana State Treasurer announces the purchase of an additional $5 million in Israeli bonds – 95.3 MNC


(95.3 MNC)

The Indiana state treasurer recently announced that his office is purchasing an additional $5 million in Israeli bonds, and he spoke to WIBC's Tony Katz about the decision on Wednesday.

With many college students across the country currently protesting for Palestine, State Treasurer Daniel Elliott discussed the financial benefits of maintaining an alliance with Israel.

He explained that buying some government bonds will actually help Hoosiers, arguing, “We don't need to boycott and sell, but engage and invest.”

Essentially, by purchasing these bonds, Indiana “purchased” a portion of Israel’s debt. The country therefore pays the state back a fixed interest rate over a period of three years.

And it is not the first time such an agreement has been reached in recent months.

The state treasurer said his office invested another $25 million in Israeli bonds just a few months ago. In total, Indiana has about $110 million worth of bonds for the Middle Eastern country.

Elliott is confident this is a “good investment” for Hoosiers that will help reduce local taxes. He noted that “Israel has never missed a payment on its debt service.”

Anna Harden

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