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In tonight’s program of Behind the Headlines:
What is behind the rapid fluctuations in Iran’s foreign exchange markets?
Is the Rouhani government behind the hoarding of foreign currencies?
What does the International Court of Justice’s ruling on US sanctions mean for Iran?
How does the regime’s support for its proxies in the region affect Iran’s economy?
Our guests tonight to discuss these topics are Navid Jamshidi, Massoud Moayedi and Abdulreza Ahmadi.
Navid Jamshidi:
I believe the cyber space and social media also affect the fluctuation in theforeign exchange rates in Iran. As Iran’s media face restrictions many people resort to the social media to get their latest news about the value of US dollar and then react to it.
The Islamic republic regime has tried to find a way for controlling the fall ofIranian rial after the US departure from the nuclear deal but it has faced a shortage of dollar in its pockets.
People also do not trust the government’s economic policy and have rushed to buy foreign exchange to secure the value of their savings.
Massoud Moayedi:
The truth of the matter is that as we do not have political parties in Iran, the presidents sets the value of US dollar and this has been the case with Rafsanjani and Ahmadinejad administrations too.
Rouhani had said that he had inherited an economic mess from Ahmadinejad but now his own economic policies are even worse than Ahmadinejad’s. So much so that the judiciary has said that Rouhani’s choice of Governor of Central Bank is under investigation for misconduct and his passport has been seized. They might even sentence him to death and Rouhani has chosen to remain silent.
When you have such an unprincipled president in office then you can imagine whathappens in the society and to the Iranian people.
Abdulreza Ahmadi:
We are faced with an ideological regime in Iran that wants to manage a country of 80 million people without any attention to the science of economics. Accordingly, every single day the Iranian people are facing a new challenge and the country lacks economic stability.
The government is the sole determining force for the economy with no involvement from the private sector or research institutes, and most of its concern is how to provide for the security forces and the Revolutionary Guard, who have their own interest groupings and large businesses that run with no government control over them.
The Islamic republic regime has taken our people hostage with this issue of US dollar v Iranian rial business only to extract their last remaining savings too!
