Iran’s parliament impeached Finance Minister Abdolnasser Hemmati due to concerns over the collapsing rial and accusations of economic mismanagement. The vote to remove him was supported by 182 lawmakers amid rising inflation and international sanctions. President Pezeshkian defended Hemmati, emphasizing unity as the nation faces external challenges.
TEHRAN, Iran (AP) — On March 2, 2025, Iran’s parliament held an impeachment session resulting in the dismissal of Finance Minister Abdolnasser Hemmati due to the country’s economic downturn, characterized by a steep depreciation of the rial and widespread accusations of mismanagement. Speaker Mohammad Bagher Qalibaf announced that 182 of the 273 lawmakers voted to remove Hemmati, which reflects the mounting economic pressure amidst rising tensions with Western powers.
President Masoud Pezeshkian defended Hemmati during the proceedings, insisting that the government is facing formidable challenges in its ongoing confrontation with the West. He called for cooperation among lawmakers to strengthen their position amidst these difficulties. He noted that relations with Western nations have declined, further exacerbating economic woes.
The rials’ exchange rate has deteriorated drastically, escalating from 32,000 per dollar in 2015 to an alarming 930,000 rials for each dollar as of March 2025. This depreciation follows the United States’ withdrawal from the nuclear agreement, which severely impacted Iran’s economy due to stringent international sanctions.
Supporters of Hemmati, such as lawmaker Mohammad Qasim Osmani, argued that the current economic crisis is a consequence of mismanagement by the preceding administration, which left a substantial budget deficit. Osmani attributed the public’s loss of confidence to geopolitical issues, claiming that many citizens turned their savings into foreign currency, further driving down the rial’s value.
Despite acknowledging inflation, which remains high at 35%, Hemmati reported a 10% decrease in inflation rates during his short tenure. He emphasized the concerted efforts of his team to address these economic challenges, but indicated that solutions would necessitate time and patience from the public and lawmakers alike.
As Iran navigates these political and economic crises, the parliament’s decision illustrates the escalating frustration regarding economic management, compounded by external pressures and internal dissent.
The impeachment of Finance Minister Abdolnasser Hemmati underscores the Iranian parliament’s growing discontent with the government’s handling of the economy amid soaring inflation and the plummeting rial. With significant challenges posed by international sanctions following the U.S. withdrawal from the nuclear deal, the country faces increasing economic turmoil. The call for unity from President Pezeshkian highlights the need for collaborative efforts to address these critical issues.
Original Source: apnews.com
