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Former Finance Minister slams Ahmadinejad's 'wave of' reshuffles at Central Bank

Press TV - A former Iranian minister has criticized President Mahmoud Ahmadinejad's policies which have led to several reshuffles in the Central Bank.

Davoud Danesh-Jaafari, who served as Finance Minister in Ahmadinejad's cabinet until April 2008, told Fars News Agency that if the government did not define its relations with the Central Bank and the Monetary and Credit Council, further reshuffles would be inevitable.

He blamed the government's policy of undertaking too many projects and plans with financial requirements as the root of the rift between the government and the banking system.

"Now, the question that could be raised is what is the exact amount of our banking resources. Either the government has unrealistic expectations or the banking system is not trying to meet the government's needs," he added.

Danesh-Jaafari added that while the Central Bank Governor remains in his or her post for years in other countries, the Ahmadinejad government has so far replaced the CBI governor twice.

The former chief of Iran's Central Bank, Tahmasb Mazaheri resigned in September and the government appointed Mahmoud Bahmani, another senior official in the economic institution as the new governor.

Mazaheri's resignation came amid a dispute over interest rates, which the government insists should remain low despite skyrocketing inflation in the country.

... Payvand News - 10/06/08 ... --

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