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Why Franklin County Must Divest from Israeli Bonds Now
Franklin County, Ohio, has invested $33 million in Israeli Bonds, with plans to add another $5 million on February 1, 2025. These investments are financially reckless, ethically questionable, and deeply misaligned with the values of our diverse community. It is time to confront the uncomfortable truth about these investments and demand immediate divestment.
Financial Risks Are StaggeringRecent developments paint a grim picture of Israel’s financial stability. Moody’s credit rating for Israel was recently downgraded from A2 to Baa1, placing it just above junk bond status. This marks a significant decline from its earlier ratings and signals rising risks for investors. Fitch Ratings also downgraded Israel to ‘A’ with a negative outlook, citing geopolitical instability and the prolonged conflict in Gaza. These downgrades translate to higher borrowing costs, increased credit risk, and diminished investor confidence.
Additionally, Israel’s economy is under immense strain. The ongoing military conflict has already cost the country 100 billion shekels ($26.3 billion) as of mid-2024, with projections reaching 250 billion shekels by 2025. Inflationary pressures and a growng debt-to-GDP ratio further exacerbate the financial instability. Despite these glaring red flags, Franklin County continues to tie taxpayer dollars to this high-risk investment.
Ethical Concerns Cannot Be IgnoredTreasurer Cheryl Brooks Sullivan, who has overseen Franklin County’s significant investments in Israeli Bonds, has publicly expressed solidarity with Israel. In 2019, she was recognized by Israel Bonds at an event attended by Israeli Prime Minister Benjamin Netanyahu. Her deep ties to Zionist organizations raise serious questions about whether these investments reflect sound financial strategy or political alignment.
By continuing to invest in Israeli Bonds, Franklin County tacitly endorses policies that many human rights organizations condemn as violations of international law. These include the occupation of Palestinian territories, forced displacement of families, and ongoing military aggression. Such actions have drawn widespread criticism from the United Nations and global humanitarian groups, yet Franklin County persists in aligning itself with these policies.
A Betrayal of Community ValuesFranklin County is a vibrant and diverse community, home to residents with deep connections to the Israeli-Palestinian conflict. Investing in Israeli Bonds alienates those who feel directly harmed by these policies and undermines the county’s commitment to inclusivity and justice. Furthermore, as public institutions worldwide adopt ethical investment practices, Franklin County’s choices stand in stark contrast to global trends prioritizing human rights and sustainability.
Better Alternatives ExistFranklin County’s $33 million could be redirected toward initiatives that benefit its residents, such as affordable housing, mental health services, public education, and infrastructure improvements. These investments not only provide tangible returns but also strengthen the community and reflect the values we hold dear.
A Call to ActionThe Franklin County Investment Advisory Committee will meet on January 23, 2025, at 2 PM, at 369 S. High St., Columbus. This is our opportunity to demand accountability and ethical governance. Treasurer Cheryl Brooks Sullivan and the county commissioners must answer for their decisions and commit to divesting from Israeli Bonds immediately.
How You Can Help- Attend the Meeting: Show up in force to the January 23 meeting and make your voice heard.
- Contact Local Officials: Demand divestment from Israeli Bonds by reaching out to:
- Cheryl Brooks Sullivan (Treasurer): Treasurer@franklincountyohio.gov, 614-525-3438
- Franklin County Board of Commissioners:
- Erica Crawley: Dayla.Murphy@franklincountyohio.gov, 614-525-3461
- Kevin Boyce: Chelsea.Barnett@franklincountyohio.gov, 614-525-5530
- John O’Grady: AnnieRyznar@franklincountyohio.gov, 614-525-5615
- Spread the Word: Share this message with friends, family, and community groups to build momentum.
- Sign this petition
Franklin County’s future depends on the choices we make today. Let’s ensure our taxpayer dollars are used to build a stronger, more equitable community—not to support unethical and financially unsound investments abroad.
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Jawhara Qutiefan is a Palestinian American, a mother, student, CO-President of AMP Columbus and higher education professional. With a strong belief in free speech, advocacy, and civil rights, she is dedicated to protecting constitutional freedoms and promoting justice for all.
Here are the citations for the sources referenced in the op-ed:
1. Moody's Downgrade of Israel's Credit Rating
Ynetnews. (n.d.). Moody's downgrades Israel's credit rating amid geopolitical tensions. Retrieved from https://www.ynetnews.com/business/article/skbmzjn0c
2. Franklin County's Investments in Israeli Bonds
People's World. (2024). Bad investment: Ohio county treasurer sinks public money into Israeli government bonds. Retrieved from https://www.peoplesworld.org/article/bad-investment-ohio-county-treasurer-sinks-public-money-into-israeli-government-bonds/
3. Treasurer Cheryl Brooks Sullivan's Associations
People's World. (2024). Cozy with lobbyists: Ohio county negligent in managing $33 million in Israeli bonds debt. Retrieved from https://www.peoplesworld.org/article/cozy-with-lobbyists-ohio-county-negligent-in-managing-33-million-israel-bonds-debt/
4. Economic Impact of Ongoing Conflicts on Israel
Associated Press. (2024). Israel faces mounting economic strain as conflict escalates. Retrieved from https://apnews.com/article/32a53a86d946418022ca636539a83f4f
