Iran’s parliament has removed Finance Minister Abdolnaser Hemmati amid rising inflation and a falling currency. Hemmati lost a vote of confidence with 182 lawmakers voting for his impeachment. The rial has plummeted on the black market, now trading above 920,000 to the dollar. President Pezeshkian defended Hemmati, highlighting collective responsibility for economic issues.
On Sunday, Iran’s parliament voted to dismiss Finance Minister Abdolnaser Hemmati due to surging inflation and a depreciating currency. This decision came after a vote of confidence, where 182 out of 273 present lawmakers supported Hemmati’s impeachment. The Iranian rial now trades at over 920,000 per US dollar in the black market, a stark increase from the less than 600,000 rate observed in mid-2024.
President Masoud Pezeshkian did defend Hemmati, arguing that the country is facing a comprehensive economic war and that the issues cannot be solely attributed to one individual. His remarks emphasized the need for a collective effort in addressing the economic crisis. Lawmakers expressed their frustration with Hemmati, holding him accountable for the nation’s financial struggles.
In summary, Iran’s Finance Minister Abdolnaser Hemmati has been dismissed by parliament amid escalating economic challenges, such as soaring inflation and a weakening currency. While President Masoud Pezeshkian defended him, lawmakers criticized Hemmati for the dire economic situation, reflecting the ongoing struggles within Iran’s financial landscape. The dismissal underscores the ongoing pressures on Iran’s economy exacerbated by longstanding sanctions and recent changes in foreign policy.
Original Source: www.scmp.com
