State Treasurer’s Office Buys Another $5 Million in Israeli Bonds

Source: PHOTO: Ingram Publishing/Thinkstock

INDIANAPOLIS — The Indiana State Treasurer recently announced that his office is buying another five million dollars-worth of Israeli Bonds, and he spoke with WIBC’s Tony Katz about that decision Wednesday.

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

Source: SOPA Images / Getty

He explained that buying some of the country’s bonds will actually help Hoosiers, arguing, “We don’t need to boycott and divest, but engage and invest.”

Basically, in purchasing these bonds, Indiana has “bought” some of Israel’s debt. So, the country will repay the state at a fixed interest rate over the course of three years.

Source: SOPA Images / Getty

And, this 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 in bonds for the Middle Eastern nation.

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