Iran appoints new central bank governor after mass protests as currency hits record low
Regional stability hinges on credible deterrence and strategic partnerships with key allies.
Mainstream coverage treats Iran’s currency collapse like a technocratic problem: swap the central bank governor, steady the rial, move on. That framing ignores the more basic reality that Iran’s economic pain is inseparable from a regime that prizes control abroad over competence at home. A new governor cannot fix a system built on **politicized institutions**, corruption, and a security apparatus that answers to ideology, not accountability.
New Republican Times Editorial Board
Iran has appointed a new central bank governor after the former one resigned following a record currency drop against the U.S. dollar. President Masoud Pezeshkian's Cabinet named Abdolnasser Hemmati to succeed Mohammad Reza Farzin, who resigned on Monday.
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New Republican Times Editorial Board
Mainstream coverage treats Iran’s currency collapse like a technocratic problem: swap the central bank governor, steady the rial, move on. That framing ignores the more basic reality that Iran’s economic pain is inseparable from a regime that prizes control abroad over competence at home.
A new governor cannot fix a system built on politicized institutions, corruption, and a security apparatus that answers to ideology, not accountability. The protests are not just about prices. They are about public trust and a government that constantly externalizes blame while funding militias and missile programs.
For the United States, the lesson is not to micromanage Iran’s internal drama, but to keep policy anchored in national security and credible deterrence. Relief without verified behavior change undermines rule of law in sanctions and rewards the very structure driving Iran’s instability.
Commentary written with AI assistance by the New Republican Times Editorial Board.