Iran’s forex policy mismatch: Analysis

Financial Tribune – It has become abundantly clear that the government and Central Bank of Iran appeals have fallen on deaf ears as few if any of the exporters are willing to sell their hard currency below the open (free) market rates

If there has been an acute need for structural reforms and fiscal probity in Iran it is now. Much has been said and written about the role, compulsion and significance of transparency and openness in functioning economies.

There is wealth of experience of countries to learn from. Tehran visibly needs to move away from ersatz reforms, sooner rather than later. The writing is on the wall. Multiple currency rates have long been a bane of the economy, the sooner this despairing and dysfunctional policy ends the better.

Likewise, decision and policy makers have come to realize, albeit belatedly, that the economic world is fast changing and governments that do not rise to the occasion can do so at their own peril. The least is that they will be left behind.