The Value Perspective with Ajmal Ahmady

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: 

1. Highlights of an FT subscriber webinar with Ajmal Ahmady on Afghanistan, 2021-08-26
2. ^Foreign Affairs (2022-03-30). “Ajmal Ahmady: Why Afghanistan Fell"
3. ^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)
4. ^“Ajmal Ahmady: The Taliban Can't Print Cash and Other Afghan Business Challenges". com. 2021-09-07
5. ^Matt Egan. "Former Afghan central banker Ajmal Ahmady describes 'complete chaos' of fleeing the country, with one shoe and no bags". CNN
6. ^"Afghanistan's central bank governor Ajmal  Ahmady tells of his escape as the Taliban closed in on Kabul". Sky News
7. ^"US left too quickly, says Afghanistan bank governor Ajmal Ahmady". BBC News. 2021-08-17
8. ^"GZERO Media with Ajmal Ahmady". GZERO Media
9. ^"Odd Lots: A Conversation With Ajmal Ahmady, Afghanistan's Former Central Bank Chief on Apple Podcasts". Apple Podcasts
10. ^"A Conversation With Ajmal Ahmady, Afghanistan's Former Central Bank Chief". com. 2021-08-23
11. ^Mercatus Macro Musings: Ajmal Ahmady on the Afghan Economy and the Challenges Facing the Nation’s Future. 2021-11-15
12. ^“Ajmal Ahmady: Afghanistan's economy is in trouble after the Taliban took control". wbur.org
13. ^"Afghanistan's Money Problem : Planet Money with Ajmal Ahmady". org
14. ^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
15. ^Wechsler, Josh Lipsky and William F. (2021-08-18). "Opinion | Will the IMF Bankroll the Taliban, with comments by Ajmal Ahmady?". Wall Street Journal
16. ^Afghan Central Bank Chief Ajmal Ahmady Warns of Economic CrisisBloomberg
17. ^Filseth, Trevor (2021-09-15). "Afghanistan Headed for Financial Collapse, Former Bank Chief Ajmal Ahmady Warns". The National Interest
18. ^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
19. ^Marino, Kate (2021-09-13). "Afghanistan's cash problem is intensifying a humanitarian crisis, with comments by Ajmal Ahmady". Axios. Retrieved 2022-04-19.

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