Iran’s Parliament Impeaches Finance Minister Amid Economic Turmoil

Iran’s parliament impeached Finance Minister Abdolnasser Hemmati due to the depreciating rial and allegations of mismanagement. The vote reflects widespread discontent with economic conditions, exacerbated by international sanctions and rising inflation. President Pezeshkian emphasized unity in facing these challenges as the government strives to stabilize the economy.

On March 2, 2025, Iran’s parliament impeached Finance Minister Abdolnasser Hemmati, citing concerns over the plummeting value of the rial and allegations of mismanagement. The vote concluded with 182 out of 273 lawmakers supporting the dismissal, occurring merely six months after President Masoud Pezeshkian’s government began its term.

Parliament Speaker Mohammad Bagher Qalibaf announced the decision amidst rising tensions related to Iran’s nuclear program and deteriorating relations with Western nations. President Pezeshkian, who defended Hemmati during the proceedings, urged for solidarity within the government to confront ongoing economic challenges exacerbated by international sanctions following the U.S. withdrawal from the 2015 nuclear agreement.

Under Pezeshkian’s administration, the rial’s exchange rate deteriorated significantly, plunging from 32,000 to 584,000 rials per dollar in 2015 to an alarming 930,000 rials by now. Lawmaker Mohammad Qasim Osmani attributed the economic challenges to a preceding budget deficit and current geopolitical events, rather than the new government’s policies.

Hemmati, during his impeachment, acknowledged the difficult economic circumstances he faced, reporting a 10% reduction in inflation yet admitting it remained high at 35%. He affirmed his administration’s commitment to improving the economic situation but cautioned that solutions would require time and sustained efforts. This event highlights Iran’s persistent political and economic landscape amid complex international interactions.

The impeachment of Finance Minister Abdolnasser Hemmati by Iran’s parliament underscores the growing frustrations over the country’s economic decline and currency devaluation. With significant shifts in the rial’s value and ongoing inflation, the Iranian government faces mounting pressure to deliver effective solutions. President Pezeshkian’s call for unity reflects the need for collaborative efforts to navigate Iran’s challenges, especially amidst geopolitical tensions and economic sanctions.

Original Source: apnews.com