IOF lost nearly two military divisions amid seven-front war

By Al Mayadeen English
Source: Israeli media
8 Nov 2024 20:06

The Israeli newspaper Maariv reports on the military losses "Israel" has incurred due to the ongoing war, amid political and economic crises, as well as strategic.

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Israeli Prime Minister Benjamin Netanyahu speaks during a ceremony in occupied al-Quds, occupied Palestine, Oct. 27, 2024. (AP)

Political analyst Ben Caspit, writing for Maariv, stated that "Israel" has been engaged in a regional war on seven fronts for over a year, during which Israeli occupation forces lost nearly two divisions and are short of thousands of soldiers, even before accounting for the dead and wounded.

Amid this, the Israeli occupation government passed a law that would "perpetuate the exemption of a large and growing sector (Haredim), which does not serve in the Israeli military."

At the same time, the government is expanding regular service, significantly increasing the number of reserve days, raising the age for exemption from reserve duty, and eliminating existing exemptions.

These measures are causing exhaustion, frustration, and a heavy burden on the few who serve in reserves, while regular soldiers continue to suffer under the mounting pressure.

The report also highlighted the multiple crises "Israel" is facing domestically, politically, and economically, while continuing the regional war.

The report detailed how, amid the war, Israeli occupation Prime Minister Benjamin Netanyahu replaced experienced occupation Security Minister Yoav Gallant, a reserve general with four decades in the security establishment, with the inexperienced Israel Katz, who has never held a security ministerial position. These changes were made swiftly, "without a transition or training period for the new minister" and on the eve of a potentially unprecedented Iranian operation on "Israel".

Meanwhile, "Israel’s" economic situation is rapidly deteriorating, with a credit downgrade expected for the third time at any moment. The deficit is soaring, and the Ministry of Finance has recommended closing five government ministries due to the financial crisis.

Ben Caspit questioned whether these actions will improve or worsen "Israel's" situation, concluding that "these actions make Israel's situation worse, meaning the Israeli government is acting against Israel during wartime."

He emphasized that this all occurred for one simple reason: "To maintain and expand Netanyahu’s control over Israel." He stated that "allowing him to continue implementing such actions, which cause permanent and strategic harm to Israel, sometimes irreversibly, will ultimately lead to a situation where Netanyahu, as Prime Minister, is doing the opposite of what his government stands for."

Additionally, Caspit referenced a recent survey by Channel 13, which asked if Netanyahu "is jeopardizing Israel’s security in light of the security scandals." Fifty-two percent responded affirmatively, while only 7% disagreed.

Caspit concluded that "one does not need security issues to understand that having a Prime Minister like Netanyahu in office will inflict strategic damage to Israel and its future."

October saw $4.3Bln decrease in 'Israel's' forex reserves

Israeli news website Globes, earlier on Thursday, reported that "Israel's" foreign exchange reserves dropped to $216.074 billion by the end of October 2024, marking a decrease of $4.303 billion from September's record high, according to data released by the Bank of Israel.

This decrease in reserves represents about 42% of the occupation's GDP.

The decline primarily resulted from a revaluation that reduced the reserves by approximately $4.922 billion, which was partly offset by the occupation's foreign exchange transactions, totaling around $668 million.

Despite an earlier pledge by the Bank of Israel to sell up to $30 billion in foreign currency to stabilize the shekel amid the ongoing wars on Gaza and Lebanon, the central bank refrained from making any currency sales in October 2024.

Since the outset of the war in October 2023, the Bank of Israel has only sold $8.5 billion of the promised amount, with most sales occurring during its initial months.

Globes noted that "Israel's" substantial foreign exchange reserves could serve as a crucial financial buffer if the regional geopolitical situation worsens, potentially affecting the shekel's strength.

Economic analysts note that these reserves were instrumental in providing stability to "Israel's" economy, particularly amid heightened uncertainty and market volatility.

This reduction in reserves comes amid a period of growing international scrutiny and economic pressure on "Israel."

As reported by Reuters, several major European financial institutions, including Italy's UniCredit and French insurer AXA, have begun scaling back investments and cutting ties with Israeli companies, citing ethical concerns over "Israel's" military actions in Gaza and violations of human rights in the occupied Palestinian territories.

Governments are increasingly taking positions on the war. Norway, Ireland, and Spain have recognized Palestinian statehood, while French President Emmanuel Macron has advocated for an arms export halt, and the UK has suspended certain arms licenses to "Israel".