With the announcement from the Deputy of Communications at the President's Office, Abdolnaser Hemmati has been appointed as the Governor of the Central Bank, and Farzin has been dismissed from this position. This change occurs at a time when the country is grappling with livelihood protests and public discontent.
Hemmati's Background and Challenges Ahead
The return of Hemmati recalls his poor performance during his previous tenure as the head of the Central Bank, which led to the first wave of currency rate increases during Rouhani's administration and the bloody protests of January 2018. Hemmati's record also includes a historic stock market crash and turmoil in financial markets that ultimately brought him to the brink of impeachment.
Hemmati's belief in a single exchange rate policy has raised concerns among experts, and it seems that this approach could lead to a new wave of increases in the prices of gold coins and dollars. Will Hemmati be able to learn from past crises this time, or will history repeat itself?
More details and a video file are available on the Fidous channel.