Iran’s Parliament Ousts Finance Minister Amid Economic Crisis
Iran’s parliament has impeached and removed Finance Minister Abdolnaser Hemmati due to soaring inflation and a collapsing currency, amidst ongoing economic turmoil exacerbated by sanctions. Hemmati’s removal was supported by 182 out of 273 lawmakers. President Pezeshkian defended him, citing broader systemic issues and the need for a combined response to the economic crisis.
Iran’s parliament has voted to remove Finance Minister Abdolnaser Hemmati amid rising inflation and a declining currency. This decision follows a vote of confidence where 182 out of 273 lawmakers supported his impeachment. The Iranian rial is currently trading at over 920,000 to the US dollar on the black market, a sharp increase from under 600,000 in mid-2024, reflecting the severe economic issues afflicting the country.
President Masoud Pezeshkian earlier defended Hemmati, arguing that the economic challenges stem from broader systemic issues rather than individual failures. He emphasized the necessity of a unified approach to combat what he termed a “full-scale economic war.” Pezeshkian urged that the societal economic problems cannot be pinned on a single person, highlighting the complexity of the situation.
Parliamentarians expressed intense frustration towards Hemmati during the impeachment process, citing his management as a primary factor contributing to Iran’s economic struggles. The critical economic scenario, exacerbated by years of international sanctions and the fallout from the US withdrawal from the 2015 nuclear agreement, has led to public discontent and a demand for accountability within the government.
The recent dismissal of Finance Minister Abdolnaser Hemmati by the Iranian parliament underscores the urgent economic crisis faced by the nation. With soaring inflation and a depreciating currency, the move reflects lawmakers’ frustration and a desire for accountability. President Pezeshkian’s defense highlights the complexity of Iran’s economic challenges, indicating a need for collective action rather than scapegoating individuals.
Original Source: www.scmp.com
