Iran Parliament Dismisses Finance Minister Amid Economic Crisis
Iran’s parliament has impeached Finance Minister Abdolnaser Hemmati due to soaring inflation and a plunging currency. The rial’s exchange rate has drastically worsened, with severe economic challenges affecting the country post-US withdrawal from the nuclear deal. President Pezeshkian supported Hemmati by highlighting the collective nature of economic issues, as lawmakers expressed frustrations during the impeachment.
On Sunday, Iran’s parliament voted to remove Economy and Finance Minister Abdolnaser Hemmati due to rising inflation and a depreciating currency. The impeachment followed a vote of confidence in which 182 out of 273 lawmakers supported his dismissal. The Iranian rial’s value has significantly declined, trading at over 920,000 rials per US dollar, compared to less than 600,000 rials in mid-2024.
President Masoud Pezeshkian defended Hemmati’s tenure, asserting that the current economic challenges are not solely attributable to one individual. He emphasized that the nation is facing an economic war, indicating the need for collective responsibility and action. Lawmakers expressed their frustrations towards Hemmati, accusing him of contributing to the nation’s financial difficulties.
The dismissal of Minister Abdolnaser Hemmati reflects the Iranian government’s struggle with economic issues, aggravated by years of sanctions and currency depreciation. Despite the defense offered by President Pezeshkian, lawmakers hold significant accountability for the nation’s economic plight, evidencing a growing dissatisfaction among political representatives. This situation underscores the urgent need for effective economic policies in Iran.
Original Source: www.scmp.com
