With Economy Faltering, Iran Appoints Two New Heads of Key Agencies

July 25 (Reuters) – Iran’s cabinet appointed new heads at two of the government’s top economic institutions, as the country grapples with a faltering economy and a sliding currency that have provoked public protests.

Abdul Nasser Hemmati was appointed to replace Valiollah Seif as governor of the central bank, according to the IRIB news agency. The agency gave no explanation for why Seif was dismissed.

In May, the United States imposed sanctions on Seif, accusing him of “moving millions of dollars” for Iran’s Revolutionary Guards.

Valiollah Seif, Governor of Central Bank of Iran, waits to start a meeting with Britain’s Foreign Secretary Philip Hammond (unseen) in Tehran, Iran August 23, 2015. REUTERS/Darren Staples

Hemmati was formerly the managing director of Bank Melli and Sina Bank, IRIB said.

Separately, Ali Tayebnia was appointed head of the Management and Planning Organization of Iran, which drafts the country’s annual budget, according to the Tasnim news agency.

Tayebnia served as Minister of Economic Affairs and Finance during President Hassan Rouhani’s first term.

Rouhani had come under increasing pressure from hardliners to reshuffle his economic team, and senior government officials had suggested a shakeup was imminent.

Ordinary Iranians have also criticised the government on social media, emphasising the difficulties they face in making ends meet.


[aesop_image img=”https://kayhanlife.com/wp-content/uploads/2018/07/Iran-Central-bank.jpeg” panorama=”off” align=”center” lightbox=”on” caption=”A general view of the Central Bank of Iran building in Tehran January 23, 2006. REUTERS/Morteza Nikoubazl” captionposition=”left” revealfx=”frombelow” overlay_revealfx=”off”]

(Reporting By Babak Dehghanpisheh; editing by Larry King)