Iranian Parliament Impeaches Finance Minister Amid Economic Crisis

Iran’s parliament has impeached Finance Minister Abdolnasser Hemmati, citing the plummeting rial and accusations of economic mismanagement. With significant support, the vote reflects deepening concerns over the country’s financial issues, exacerbated by international sanctions and inflation. The decision highlights the challenges faced by President Masoud Pezeshkian’s administration in navigating a complex economic landscape.

On March 2, 2025, Iran’s parliament voted to impeach Finance Minister Abdolnasser Hemmati due to significant concerns regarding the devaluation of the rial and allegations of economic mismanagement. In a session attended by President Masoud Pezeshkian, 182 out of 273 lawmakers supported Hemmati’s removal, only six months after the new government took office. Pezeshkian defended Hemmati, highlighting the government’s ongoing challenges, particularly in relation to Western pressures and sanctions.

Iran’s economy is struggling under severe strain, stemming from international sanctions that intensified after the U.S. exited the 2015 nuclear deal. The rial has experienced drastic depreciation, plunging from 32,000 to nearly 930,000 rials per dollar in that timeframe. Legislators debated the root causes of inflation, attributing part of the crisis to a budget deficit left by the preceding administration and external geopolitical events affecting public trust.

Hemmati acknowledged the difficult economic conditions during his brief tenure, noted a modest 10% reduction in inflation, but recognized the persistently high inflation rate at 35%. He reiterated his commitment to addressing economic challenges, though he cautioned that substantial improvements would require time. The impeachment reflects the enduring political and economic turmoil faced by Iran amid complex relations with the global community.

The impeachment of Finance Minister Abdolnasser Hemmati underscores the Iranian parliament’s urgent response to economic turmoil, particularly the alarming depreciation of the rial. Amid criticism of mismanagement and external pressures, President Pezeshkian’s defense highlights the precarious position of the current government in addressing the country’s economic struggles. This event is a significant marker in Iran’s ongoing political and economic challenges.

Original Source: apnews.com