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March 24, 2004
Conversations, Jordanian Central Banker
Recently retired former Deputy G, speaking to him about a project, went to his house this evening for a late dinner.
We had an interesting conversation, wide ranging. Of note, his opinion that the recent events have really touched off a negative wave, and felt it could be rather like Sharon's visit to the Haram of the Dome of the Rock in terms of setting off a new round of degragation in conditions.
Otherwise, we spoke about currency policy - turns out this fellow managed the forex operations of the CB during the 1989 meltdown. Chalabi's little thing. Interesting convo there, but that I won't touch. Had some amusing thoughts to share on the Egyptians and their staggeringly mismanaged float of the pound. As he said, they have done it in a way that they have managed to take no benefit from it (floating the pound), nor any benefit from their actions to manage (the float). The funny thing about this is the current Gov of CB Egypt was his professor back in the day - the fellow is operating exactely contrary to what he taught, my man says.
That's Egypt. Say one thing in private, do and say another in public, wallow in incoherence.
Spoke a long time on democracization. Both agreed that there is a popular desire for more open systems, although people do not, understandably, have a good sense of what this means. But there is widespread sense that the old systems have failed, new are needed. However, he noted that the way the reforms are being pushed by the Administration is causing people to say no because of their pride, feelings. He himself is quite pro-American, but things need to be done better. Also shared that he feels the American embassies are very poorly served by their staff - focus on people who speak English well, but not on those who know the country, they get local foreigners - poor langauge skills, poor intelligence (economic).
Have to say, I agree.
Posted by The Lounsbury at March 24, 2004 02:48 AM
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Jan-Jul 2004
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