Iranian Parliament Dismisses Finance Minister Amid Currency Crisis
Iran’s Parliament has ousted Finance Minister Abdolnaser Hemmati amid a severe depreciation of the national currency and rising inflation. Hemmati lost a confidence vote, with 182 lawmakers supporting his removal. The Iranian rial is now over 920,000 per US dollar, a drastic drop from previous years. His dismissal is effective immediately, with an acting minister to be appointed until a permanent replacement is found.
Iran’s Parliament has voted to dismiss Finance Minister Abdolnaser Hemmati, following a significant decline of the national currency and increasing inflation. This decision was reported by state-run television and reflects his loss of confidence after nearly eight months in office under President Masoud Pezeshkian. Of the 273 lawmakers, 182 voted in favor of his removal due to the steep depreciation of the Iranian rial.
Under the provisions of Iran’s constitution, Hemmati’s dismissal is effective immediately, and an acting minister will be appointed until a permanent replacement is confirmed by the government. Recently, the rial has traded on the black market at over 920,000 per US dollar, a stark contrast to rates of less than 600,000 in 2024 and 32,000 in 2015.
The ongoing depreciation of the Iranian currency follows the reinstatement of the United States’ economic policies under President Donald Trump, which included the reimplementation of the “maximum pressure” approach against Iran, further aggravating the economic situation.
The dismissal of Finance Minister Abdolnaser Hemmati by Iran’s Parliament underscores the country’s ongoing economic struggles, particularly regarding the depreciation of the rial and rising inflation. With immediate effects stemming from the vote, the Iranian government faces challenges in stabilizing its financial situation and restoring confidence among its populace. These developments highlight the broader implications of international economic policies on Iran’s economy.
Original Source: shafaq.com
