Iran’s parliament impeached Finance Minister Abdolnasser Hemmati over the declining rial and allegations of mismanagement. The decision, supported by 182 lawmakers, reflects significant concerns regarding Iran’s economy and diplomatic relations with the West. Hemmati’s tenure faced severe challenges resulting from international sanctions and economic instability dating back to the previous administration’s policies.
On March 2, 2025, Iran’s parliament impeached Finance Minister Abdolnasser Hemmati due to growing concerns about the declining value of the rial and accusations of mismanagement. The decision, confirmed by Parliament Speaker Mohammad Bagher Qalibaf, saw 182 members vote for his dismissal, just six months into President Masoud Pezeshkian’s administration.
President Pezeshkian defended Hemmati during the proceedings, urging for greater unity within Parliament as the government faces external pressures. Amid rising tensions surrounding Iran’s nuclear ambitions and deteriorating relations with Western nations, the economy continues to suffer from severe international sanctions. In 2015, the rial was valued at 32,000 to the dollar; by July, it had dropped to 584,000, a figure that has since deteriorated to approximately 930,000 rials per dollar in recent trades.
During the impeachment discussion, supporters of Hemmati pointed to inflation and exchange rates as consequences of the prior administration’s budget deficits and external geopolitical factors, which they claim eroded public confidence, pushing citizens to convert their savings to foreign currencies, compounding the rial’s devaluation.
Hemmati, in his defense, acknowledged the severe economic challenges faced during his tenure, where inflation reached 35%, albeit noting a temporary decline in it by 10%. He assured legislators of the commitment to rectify these concerns but cautioned that substantial improvements would take time.
This impeachment marks a continuance of Iran’s intricate political and economic challenges as the nation strives to manage its relationship amidst complex international dynamics.
The recent developments highlight the Iranian parliament’s swift response to economic instability and dissatisfaction with financial governance, reflecting the urgency of addressing both local economic conditions and broader geopolitical conflicts affecting the country.
In summary, the Iranian parliament’s impeachment of Finance Minister Abdolnasser Hemmati is a significant indication of the country’s economic struggles amid rising inflation and currency devaluation. The dismissal reveals the intense pressures both on government officials and the economy. The administration, led by President Pezeshkian, faces formidable challenges in uniting efforts to stabilize Iran’s financial landscape while dealing with international adversities.
Original Source: apnews.com
