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Iran's Central Bank governor replaced

TEHRAN, Aug. 26 (Mehr News Agency) - President Mahmud Ahmadinejad has accepted the resignation of Central Bank Governor Ebrahim Sheibani, government spokesman Gholam-Hossein Elham announced on Sunday.

Elham said Export Development Bank Chairman Tahmasb Mazaheri, who was minister of economic affairs and finance in the Khatami administration, will soon be appointed to the post.

Tahmasb Mazaheri

The process of "appointing Mr. Tahmasb Mazaheri as the new governor of the Central Bank is in the final stage, and the president will announce the decree after the meeting of the Central Bank Board on Tuesday," the government spokesman told IRIB.

Sheibani will remain in the post until Mazaheri takes over, he added.

A few days ago, shortly after the news broke about the CBI governor's resignation, some reports said Sheibani would become Iran's representative to the World Bank, but on Sunday he said he has no interest in the World Bank job.

"I had been at the World Bank in the past, but currently I am not at all interested in returning there, and I have told this to the president," Sheibani told the Mehr News Agency.

A few days ago, Vice President for Executive Affairs Ali Saeedlou said there would be no cabinet resignations in the near future and even mentioned the CBI governor.

International bankers say Sheibani earned respect by seeking to keep politics out of monetary policy and also by fighting hard to control prices.

Sheibani opposed Ahmadinejad on issues such as the president's call to cut interest rates.

Bank rates were cut on the president's recommendation in June, a move criticized by economists, who called it an unwise measure at a time when inflation has surged to 16 percent or more.

... Payvand News - 8/27/07 ... --

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