The Value Perspective with Ajmal Ahmady
The Value Perspective
Afghanistan - The Institutional Set Up of the Central Bank
I think, i guess one question that many people might have yes to day. In the case of afghanistan, ther many othe institutions were being built with the help of the western world. There was impression, and you will correct if i'm wrong, that maybe many people didn't end up buying into those institutions. And a, i think the institutional set up of the central bank did not a, cause too many issues. But for the most part, it didn't cause undue tension at there was one area that i'll get back to, that i think caused tension.
Ajmal Ahmady is the former Governor of the Central Bank of Afghanistan, Da Afghanistan Bank, and the latest guest on the Value Perspective. Juan and Emily had the opportunity to talk with Ajmal about the work he accomplished during his tenure including inflation stabilisation and digitised money wallet. They also discussed decision making as a central bank during times of crisis and conflict, including how the DAB made decisions as the Taliban encroached towards the capital.
MINUTES:
1:05 Episode Intro
1:43 Ajmal's background
4:04 Providing stability through central bank tools
8:03 How did the central bank affect areas with different levels of development?
10:30 How do you build trust in formalised finance?
13:40 How did military conflict affect your decision making process?
16:38 Increased financial inclusion
20:39 The role of opium within the Afghan economy
25:21 How did the bank help in anti-Taliban efforts?
27:29 What lead to you make the decision to leave the country?
31:07 As the events were unfolding, how did you process information when making decisions?
34:07 Is there a 'checklist' for a Governor of a bank when they're under threat?
36:40 What does the future of the DAB look like?
39:39 Book recommendation an outcome that was a result of a bad process
Book recommendations:
The Silk Roads: A New History of the World by Peter Frankopan
For further information, please see the following links. Please note that Schroders is not responsible for content on external sites:
- Highlights of an FT subscriber webinar with Ajmal Ahmady on Afghanistan, 2021-08-26
- ^Foreign Affairs (2022-03-30). “Ajmal Ahmady: Why Afghanistan Fell"
- ^Financial Times (2021-08-24). “Ajmal Ahmady: Afghanistan faces an economic crisis, as well as a humanitarian one" (actual link: https://www.ft.com/stream/75ed5ed6-883f-402c-b04b-4d1ddd5ab670)
- ^“Ajmal Ahmady: The Taliban Can't Print Cash and Other Afghan Business Challenges". com. 2021-09-07
- ^Matt Egan. "Former Afghan central banker Ajmal Ahmady describes 'complete chaos' of fleeing the country, with one shoe and no bags". CNN
- ^"Afghanistan's central bank governor Ajmal Ahmady tells of his escape as the Taliban closed in on Kabul". Sky News
- ^"US left too quickly, says Afghanistan bank governor Ajmal Ahmady". BBC News. 2021-08-17
- ^"GZERO Media with Ajmal Ahmady". GZERO Media
- ^"Odd Lots: A Conversation With Ajmal Ahmady, Afghanistan's Former Central Bank Chief on Apple Podcasts". Apple Podcasts
- ^"A Conversation With Ajmal Ahmady, Afghanistan's Former Central Bank Chief". com. 2021-08-23
- ^Mercatus Macro Musings: Ajmal Ahmady on the Afghan Economy and the Challenges Facing the Nation’s Future. 2021-11-15
- ^“Ajmal Ahmady: Afghanistan's economy is in trouble after the Taliban took control". wbur.org
- ^"Afghanistan's Money Problem : Planet Money with Ajmal Ahmady". org
- ^Nelson, Eshe; Rappeport, Alan (2021-08-18). "U.S. and I.M.F. Apply a Financial Squeeze on the Taliban, with comments by Ajmal Ahmady". The New York Times
- ^Wechsler, Josh Lipsky and William F. (2021-08-18). "Opinion | Will the IMF Bankroll the Taliban, with comments by Ajmal Ahmady?". Wall Street Journal
- ^Afghan Central Bank Chief Ajmal Ahmady Warns of Economic CrisisBloomberg
- ^Filseth, Trevor (2021-09-15). "Afghanistan Headed for Financial Collapse, Former Bank Chief Ajmal Ahmady Warns". The National Interest
- ^Franck, Thomas (2021-08-18). "U.S. won't let Taliban access Afghanistan's financial assets held in America, with comments by Ajmal Ahmady". CNBC
- ^Marino, Kate (2021-09-13). "Afghanistan's cash problem is intensifying a humanitarian crisis, with comments by Ajmal Ahmady". Axios. Retrieved 2022-04-19.
NEW EPISODES:
We release a new episodes every three weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify and other podcast players.
GET IN TOUCH:
send us a tweet: @TheValueTeam
Important information. This podcast is for investment professionals only.
This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy.
Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.
Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. The views and opinions contained herein are those of individual to whom they are attributed, and may not necessarily represent views expressed or reflected in other communications, strategies or funds.
The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall.
Past Performance is not a guide to future performance and may not be repeated.
The forecasts included should not be relied upon, are not guaranteed and are provided only as at the date of issue. Our forecasts are based on our own assumptions which may change.
Remember Everything You Learn from Podcasts
