Iran’s Parliament Impeaches Finance Minister Amid Economic Crisis

Iran’s parliament has impeached Finance Minister Abdolnasser Hemmati amid concerns over the plummeting rial and accusations of mismanagement. The decision reflects the ongoing economic crisis exacerbated by international sanctions and strained relations with the West. Supporters of Hemmati cited external factors and the previous administration’s budget deficit as causes for the current economic instability.

On March 2, 2025, Iran’s parliament voted to impeach and remove Abdolnasser Hemmati from his position as Finance Minister, amid increasing concerns regarding the nation’s weak currency and alleged mismanagement. The parliament session, presided over by Speaker Mohammad Bagher Qalibaf, resulted in 182 votes in favor of his dismissal, occurring merely six months after the new government headed by President Masoud Pezeshkian assumed office.

President Pezeshkian defended Hemmati during the proceedings, stressing the government’s struggle against external pressures and urging for unity within parliament to effectively tackle ongoing challenges. The impeachment comes amid rising geopolitical tensions related to Iran’s nuclear program and strained relations with Western nations, contributing to the economic difficulties faced by the country.

The value of the Iranian rial has plummeted drastically from 32,000 rials per dollar in 2015 to approximately 930,000 rials per dollar recently. This economic crisis is exacerbated by international sanctions, particularly following the US exit from the 2015 nuclear agreement, further damaging Iran’s economic landscape.

During the impeachment debate, supportive lawmaker Mohammad Qasim Osmani contended that current inflation and exchange rate challenges are not solely attributable to the present government. Citing the budget deficit from the previous administration and recent geopolitical shifts, he attributed the decline in public confidence to rising instability, leading citizens to convert their savings into foreign currency.

Hemmati admitted that the economic environment during his tenure has been difficult, with inflation figures reaching 35% despite a 10% reduction over five months. He reassured lawmakers of his team’s commitment to addressing these issues, acknowledging, however, that improvements will require time.

The impeachment of Finance Minister Abdolnasser Hemmati highlights the Iranian parliament’s response to pressing economic challenges, particularly the devaluation of the rial and concerns over mismanagement. The political dynamics reveal the complexities of Iran’s economic situation amid international sanctions and a volatile geopolitical landscape. The situation calls for cooperative efforts among lawmakers to navigate these ongoing struggles effectively.

Original Source: apnews.com