Iran appoints new central bank chief (state media)
DUBAI (Reuters) – Iran has appointed Ali Salehabadi as head of the central bank, Iranian state television reported on Wednesday, as the Islamic Republic’s economy falters under US sanctions.
“The role of the central bank in preserving the value of the national currency and controlling inflation is very fundamental,” President Ebrahim Raisi said after Salehabadi’s appointment.
Since 2018, when Washington came out of the 2015 Iran nuclear deal with six powers and reimposed sanctions, the Iranian economic crisis has worsened with inflation exceeding 50%, according to official media, and the rial. Iranian has lost over 75% of its value against the US dollar. .
Salehabadi holds a doctorate in financial management from the University of Tehran, according to the official Iranian news agency IRNA, and headed the Tehran Stock Exchange.
Raisi, who took office on August 3, has pledged to improve the economy of the sanctions-hit country by increasing domestic production.
Talks between Tehran and six powers to revive the nuclear deal were postponed two days after Raisi’s election in June. Iran has yet to announce when it will return to the negotiating table in Vienna.
Writing by Parisa Hafezi; Editing by Alison Williams