Iran Parliament dismisses economy minister over economic mismanagement
Iranian lawmakers have impeached and voted to remove Minister of Economic Affairs and Finance Abdonnasser Hemmati from office over economic problems and the sharp devaluation of the national currency.
Hemmati lost a vote of confidence during the Parliament’s session on Sunday with 182 of 273 lawmakers voting in favor of his removal. Eighty-nine lawmakers wanted him to remain in office.
The impeachment session saw addresses by the minister himself, President Masoud Pezeshkian and the legislators speaking in favor and against the motion.
President Pezeshkian defended Hemmati, a former governor of the Central Bank of Iran, and said the country is in an economic war with the enemy and blaming each other would not solve any problem.
He emphasized that unity and convergence are the sole solution to the country’s woes.
Hemmati also addressed the session and said Iran has enormous capacities and will emerge victorious in the enemy’s economic war.
A group of 91 lawmakers initiated impeachment proceedings against Hemmati, citing his failure to stabilize markets and curb inflation.
The value of the Iranian rial has sharply declined after President Pezeshkian came into office in July.
On the free market on Sunday, rial was trading at more than 920,000 against the US dollar, compared with approximately 580,000 in mid-2024.
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