Majlis to Summon Ahmadinejad Over Currency Crisis

Ahmadinejad Targeted for Currency Fiasco

Iranian lawmakers today gathered 93 signatures in Majlis to summon President Mahmoud Ahmadinejad to answer questions about the currency crisis in the country. The minimum number needed was 78. Majlis Speaker Ali Larijani will need to fix a date for the questioning. If the members would not be satisfied with the answers and the government’s handling of the crisis, they can then initiate formal impeachment proceedings against the president.

Note: Last week’s unprecedented plunge in the value of the currency sent shockwaves across the country. It is feared that the psychological jolt caused by the rial losing more than a third of its value within few days cannot easily be overcome unless the authorities take as bold an action. Blaming Ahmadinejad and his economic policies for contributing to the currency fiasco and dumping the increasingly isolated president might seem politically the least costly of all the options open to bring back confidence to the currency markets. 

Photo credit: Iranian President Mahmoud Ahmadinejad in an August 2012 file photo. (AFP)