Due to the collapse of the toman.. Iranian parliament dismisses the Minister of Finance
3/2/2025
The Iranian parliament dismissed Finance Minister Abdolnaser Hemmati on Sunday after starting a no-confidence vote against him over his handling of the high inflation rate and the decline in the national currency exchange rate, state television reported.
The source explained that the Minister of Economic Affairs and Finance, Abdolnasser Hemmati, lost the vote of no confidence against him, with 182 parliamentarians out of 273 who attended the session designated for his dismissal supporting the motion.
Earlier on Sunday, Iran's parliament began a session that included a vote of no confidence in the finance minister, following a sharp decline in the value of the Iranian currency, the rial.
On the black market on Sunday, the riyal was trading at more than 920,000 to the US dollar, compared to less than 600,000 in mid-2024.
The decision to withdraw confidence from Finance Minister Abdolnaser Hemmati comes nearly 8 months after the formation of the government under President Masoud Pezeshkian.
Under the Iranian constitution, the minister's dismissal would take effect immediately, with an acting minister appointed until the government chooses a replacement.