Businesses, universities, and government offices across most of Iran remained closed Wednesday due to a government-ordered shutdown, as President Masoud Pezeshkian addressed growing public discontent over the country's struggling economy and government. The one-day shutdown affected 21 of Iran's 31 provinces, including the capital, Tehran.
The shutdown coincided with President Pezeshkian's appointment of Abdolnaser Hemmati, the former economy minister, as the new central bank chief. State news media reported that the president recognized the role as "extremely difficult and complex," subjecting Hemmati to significant pressure and criticism.
The change in leadership at the central bank followed the abrupt resignation of Mohammad Reza Farzin on Monday, triggered by a spike in Iran's inflation rate. This surge in inflation has spurred protests in Tehran and other cities, with frustrated merchants taking to the streets.
Footage circulating on social media Wednesday, verified by The New York Times, showed demonstrators in Fasa, south-central Iran, throwing objects at the gates of a government building complex before shaking them open. The protests added to the disruption caused by days of demonstrations.
The Iranian economy has faced significant challenges in recent years, exacerbated by international sanctions and internal economic policies. The rising inflation rate has eroded purchasing power and fueled public anger, creating a volatile political climate. The government's response, including the shutdown and the appointment of a new central bank chief, reflects an attempt to regain control and address the economic grievances driving the protests.
The appointment of Hemmati signals a potential shift in economic policy, though the specific direction remains unclear. As former economy minister, Hemmati brings experience in navigating Iran's complex economic landscape. However, the "intense pressure and criticism" anticipated by President Pezeshkian highlights the challenges he faces in stabilizing the economy and satisfying public demands. The situation remains fluid, with the potential for further protests and policy changes in the coming days.
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