An Exclusive Interview with Economist Mr. Ahmed Inaz

Maldivian Economist Mr. Ahmed Inaz. Photo by: Majlis Webiste

Following is an exclusive interview given to Adam Mohamed of Adamington Online by Maldivian Economist who is the Former Finance Minister Mr. Ahmed Inaz, in a Direct Message (DM) session of Twitter. This is the first exclusive interview given to Adamington Online via a professional who had served in the senior positions in the government of Maldives.

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Adam Mohamed: What part of economics really interests you?

Mr. Ahmed Inaz: It is development Economics. I am also interested in Islamic Economics. That’s slowly growing in its practice across Europe and the Islamic World.

Adam Mohamed: In a pure capitalist environment, would the end result be a monopoly?

Mr. Ahmed Inaz: I believe in an economy market must have its proper space to function. That would lead to innovation, risk taking and employment etc. While a transparent government with political leaders who have absolutely no share in the private sector (if they had, they must forfeit them before they take leadership positions) to run a fair and accountable government. So in conclusion be it pure capitalistic economy, it would end up in system that is unrecognizable to what Adam smith argued in his wealth of nation. Therefore, without transparent and accountable government in a pure capitalist economy, monopolies simply don’t stay as argued by many economists. That my opinion. Thus we need government interventions.

Adam Mohamed: What would be the affect of tightening monetary policy on the value of bonds in the bond market?

Mr. Ahmed Inaz: First of all monetary policy is the use of the supply of money and short-term interest rates to influence economic growth and inflation tighten monetary will lead to higher interest rates. With higher interest rates investors will demand higher yields send lower bond prices. So tightening of monetary policy has a negative relationship with bond market. However you have to understand there will be a time lag for all this to happen as seen in most cases in Europe and US

Adam Mohamed: If the government borrows a lot of money, what will this do to interest rates?

Mr. Ahmed Inaz: If that is the case then the Interest rates will rise in response to deficit financing.

Adam Mohamed: What other profession would you be in, if you weren't an economist?

Mr. Ahmed Inaz: Then I would be a medical doctor, practicing and doing research.

Note: Mr. Ahmed Inaz holds a Master’s Degree in International Business Economics from Minister University of West Minister, UK, Master’s Degree in Development Economics & Policy from University of Manchester, UK, & Bachelors’ Degree in Economics from National University of Singapore. He is currently completing his PhD studies at University of Auckland.