Iran Parliament Dismisses Finance Minister Amid Economic Crisis
Iran’s parliament sacked Finance Minister Abdolnaser Hemmati due to rising inflation and a falling currency, despite President Masoud Pezeshkian’s defense. The Iranian rial is now trading at over 920,000 to the US dollar, significantly depreciating since mid-2024. Lawmakers expressed frustration with Hemmati, prompting his removal amid ongoing economic struggles.
On Sunday, Iran’s parliament voted to dismiss Finance Minister Abdolnaser Hemmati amidst rising inflation and a declining currency. The impeachment occurred following a vote in which 182 out of 273 lawmakers present supported his removal. This followed years of economic sanctions and hardship, which have severely affected Iran’s financial landscape, resulting in significant currency depreciation.
Currently, the Iranian rial has plummeted to over 920,000 against the US dollar on the black market, a stark increase from less than 600,000 in mid-2024. President Masoud Pezeshkian defended Hemmati prior to the impeachment, emphasizing the collective nature of the economic struggles and arguing that accountability should not rest solely on one individual.
In his remarks, President Pezeshkian stated, “We are in a full-scale [economic] war with the enemy … we must take a war formation.” He further conveyed that the issues affecting the economy are complex and pervasive, not solely the result of Hemmati’s actions. Lawmakers expressed their frustration with Hemmati, attributing the nation’s economic difficulties to his policies and decisions.
The dismissal of Finance Minister Abdolnaser Hemmati by Iran’s parliament underscores the urgency of addressing the country’s deepening economic crisis. With inflation soaring and the national currency in free fall, lawmakers are holding leadership accountable, while the president calls for a comprehensive approach to tackle the challenges posed by longstanding sanctions. Ongoing political and economic instability continues to hinder Iran’s recovery efforts.
Original Source: www.scmp.com
