Iran keeps tight grip on Central Bank
The governor of the Central Bank of Iran is defending his performance just as political groups are fighting for authority over the governor position, while the bank needs greater independence to stabilize Iranian markets.
In an open letter published Nov. 15, Valiollah Seif, the governor of the Central Bank of Iran (CBI), defended his organization's performance in the past year, elaborating in detail how he adopted a series of effective monetary policies to curb hyperinflation, direct liquidity into specific markets, regulate the volatile foreign currency market and help end the recession.
The letter, though not directly addressing any particular issue, comes just at the moment when political groups in Tehran are fighting for the legal authority to appoint and dismiss the CBI governor and improve the CBI’s standard of independence.
