Iranian Parliament Dismisses Finance Minister Amid Economic Crisis

Iran’s parliament dismissed Finance Minister Abdolnaser Hemmati due to rising inflation and currency devaluation, with 182 lawmakers supporting his impeachment. The rial has plummeted to over 920,000 to the US dollar. President Masoud Pezeshkian defended Hemmati, attributing the economic issues to broader conflicts rather than individual failings. Lawmakers expressed frustration during the impeachment proceedings.

On Sunday, Iran’s parliament enacted a vote to dismiss Finance Minister Abdolnaser Hemmati following his impeachment, primarily attributed to rampant inflation and a significant decline in the national currency. Out of the 273 lawmakers present, 182 voted in favor of his removal, highlighting serious discontent regarding the country’s economic management.

The Iranian rial, on the black market, was trading at an alarming rate of over 920,000 against the US dollar, a drastic increase from less than 600,000 in mid-2024. This decline reflects the ongoing economic turmoil that has followed the US withdrawal from the 2015 nuclear agreement and decades of international sanctions.

President Masoud Pezeshkian defended Hemmati, emphasizing that the current economic crisis is the result of a broader conflict, stating, “We are in a full-scale [economic] war with the enemy… we must take a war formation.” He called for a collective understanding, asserting that the problems affecting Iran’s economy cannot be blamed solely on one individual.

Lawmakers took to the floor, vocally expressing their grievances against the former minister, blaming him for the nation’s significant economic challenges. Their remarks echoed a sense of urgency as they attempted to hold Hemmati accountable for the nation’s financial turmoil, underscoring the tension in the legislative chamber.

The dismissal of Finance Minister Abdolnaser Hemmati by Iran’s parliament reveals deep-seated frustrations regarding economic governance amidst soaring inflation and currency devaluation. Despite efforts by President Masoud Pezeshkian to contextualize these issues as part of a larger economic conflict, lawmakers are pressing for accountability in light of Iran’s mounting financial struggles. This situation underscores the complexity of Iran’s economic challenges and the urgent need for effective leadership.

Original Source: www.scmp.com