Iran Parliament Dismisses Finance Minister Amid Economic Crisis

Iran’s parliament dismissed Finance Minister Abdolnaser Hemmati due to rising inflation and a falling currency. The rial’s value plummeted significantly, leading to growing dissatisfaction among lawmakers. Despite support from President Masoud Pezeshkian, Hemmati was impeached, reflecting serious economic challenges in Iran, exacerbated by longstanding sanctions.

On Sunday, Iran’s parliament voted to dismiss Finance Minister Abdolnaser Hemmati following an impeachment focused on the country’s escalating inflation and the depreciation of its currency. Out of 273 representatives present, 182 supported his removal, as reported by state television. The Iranian rial is currently trading at over 920,000 to the U.S. dollar on the black market, a significant drop from under 600,000 just over a year ago.

Despite the turmoil, President Masoud Pezeshkian defended Hemmati, stating, “We are in a full-scale [economic] war with the enemy … we must take a war formation.” He emphasized that the ongoing economic issues could not solely be attributed to Hemmati, arguing for a broader accountability approach before the lawmakers.

During the session, various legislators expressed their frustrations, directly holding Hemmati accountable for the economic difficulties facing the nation. The impeachment highlights the challenges Iran’s government faces in managing its economy amidst decades of international sanctions, especially following the U.S. withdrawal from the nuclear agreement of 2015.

In summary, the Iranian parliament’s decision to dismiss Finance Minister Abdolnaser Hemmati reflects deep dissatisfaction with the country’s economic management amid soaring inflation and a declining currency. While some officials, including President Pezeshkian, defend Hemmati’s record by attributing broader blame, the lawmakers’ actions signify serious concerns about Iran’s economic stability. This incident underscores the significant challenges that the Iranian government must navigate in the current economic landscape.

Original Source: www.scmp.com