Mudher Saleh, the economic adviser to the prime minister Haider Al Abadi has had a turbulent career.
At the end of 2012, he was thrown in jail upon his return from IMF meetings in Tokyo. The arrest warrant accused the former deputy governor of the central bank of manipulating the Iraqi currency against the US dollar through the currency auctions with banks.
This month, he was acquitted of charges and appointed to a higher post with the premier.
Here he talks about his experiences with monetary policy in the war-torn country.
When were you appointed as deputy governor and what were you tasked with?
I was appointed deputy governor after the [2003] US-led war on Iraq. Prior to that I worked in the statistic department of the central bank. Our role was to build up its foreign reserves. They were nothing, around US$2 million in 2004. By 2012, they stood at $76 billion with a stable exchange rate, a burgeoning financial market and licensing of banks and branches according to international standards. It wasn’t easy but I don’t think our efforts were appreciated. I was also part of a four member committee tasked with the Paris Club Agreement in rescheduling $120bn of debt with creditor countries from the era of Saddam Hussein. We also had to reduce inflation, which stood at 20 per cent at the time, and reached our target of 3 per cent by 2010.
You and the former governor Sinan Al Shabibi were acquitted of charges this month. Do you think your arrest was politically motivated?
The government didn’t like [the fact that] the central bank was an independent body and strong financially, determining monetary policy in an oil state. The government was dependent on the watchdog for issuing dinars against petrodollars for their state expenditures. They questioned the demand of $48bn a year on currency auctions. In order to balance the transactions by the government on its oil revenues, we would sell foreign currency to the banks that they would use towards trade finance. They alleged that $20bn was sufficient for Iraqi trade, and that half that amount was not needed. But after my removal and the ousting of governor Shabibi in 2013, they sold $54bn. Nobody could justify it. Some people were misleading the former prime minister Nouri Al Maliki, and he acted on misinformation and exaggeration.
halsayegh@thenational
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
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The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
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Reading List
Practitioners of mindful eating recommend the following books to get you started:
Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung
How to Eat by Thich Nhat Hanh
The Mindful Diet by Dr Ruth Wolever
Mindful Eating by Dr Jan Bays
How to Raise a Mindful Eaterby Maryann Jacobsen
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