Maj. Gen. Mohammad Ali Jafari is demanding immediate action to stop the rial’s freefall.
In an exceedingly rare public rebuke, the head of Iran’s Islamic Revolutionary Guards Corps has called out his country’s president, Hassan Rouhani, demanding that he do more to gain control of the nation’s economy, which appears to be in a rapid death spiral ahead of implementation next week of the first round of U.S. sanctions.
Maj. Gen. Mohammad Ali Jafari, in an open letter to Rouhani published by the Tasnim news agency, also contained a not-so-veiled threat to the latter’s hold on political power:
“The unique and extensive backing you benefited from in past weeks shouldn’t preclude you from taking revolutionary actions to control prices and prevent the enormous increase in the price of foreign currency and gold. Decision-making in today’s difficult circumstances necessitates revolutionary determination and decisiveness in dealing with certain managers’ weaknesses.”
Not only does Jafari control Iran’s most powerful military body, he also wields tremendous influence over a number of companies that are under the IRGC’s control. Those companies are already feeling the economic pressure of rapidly devaluing rial, the Iranian currency.
Dollars are hard to come by, even before President Donald Trump’s sanctions have had a chance to sink in. On Sunday, the “black market” exchange rate—in reality, what people on the street were willing to pay money changers above the official exchange rate—reached nearly 120,000 rial to the dollar.
Full article: IRGC Chief Calls Out Rouhani Over Iran’s Economic Woes (TruNews)