Iran’s Parliament dismissed Finance Minister Abdolnaser Hemmati after a confidence vote amid rising inflation and a collapsing rial. His removal follows a significant fall in the currency’s value, which is now trading over 920,000 per US dollar. Hemmati’s removal, effective immediately, reflects the urgent economic challenges facing the country under new leadership.
Iran’s Parliament has voted to remove Finance Minister Abdolnaser Hemmati due to rampant inflation and a steep decline in the value of the national currency, the rial. This decision followed a confidence vote in which 182 out of 273 lawmakers supported his dismissal. Hemmati’s removal comes less than eight months after President Masoud Pezeshkian’s administration took power.
The dismissal of Finance Minister Hemmati highlights the challenges facing Iran’s economy, particularly regarding currency depreciation and inflation. The rial’s sharp drop against the US dollar raises concerns about economic stability, compounded by international sanctions. It remains to be seen how the new leadership will address these pressing issues.
Original Source: shafaq.com
