Iran is currently facing a financial crisis, with its currency, the Iranian rial, dropping to record lows in the past few months. In April alone, the value of the rial dropped by a fifth. The rial is now worth almost half what it was when President Hassan Rouhani took office in 2013.
The Iranian Regime is trying to set the exchange rate at 42,000 rials to the dollar, as opposed to the current 60,000, but the market will not allow for this. Still, the Regime has threatened harsh punishments for anyone in Iran who will not exchange rials at this artificial price.
They’ve even sent riot police into the bazaars to arrest money changers, with senior cleric Nasser Makarem-Shirazi advocating for the execution of the money changes to send a warning to others.
But how did Iran get in this position in the first place?
The BBC blames the fact that Iran has not been able to attract any major international banks to the country since the signing of the nuclear deal back in 2016. Thus, Iranian businesses involved in the import or export of goods have had to rely on unofficial currency exchanges, which could differ wildly.
But why would international banks be reluctant to set up shop in Iran? Well simply, they rightly fear that the Iranian Regime and its many front companies would launder its illegally gotten gains through the banks or use money from these banks to fund terrorism.
The Iranian people also point out that much of the economic problems in Iran result from poor planning, mismanagement, and corruption on behalf of the Regime. Iran has long plundered the wealth of its people into terrorism, proxy wars, and regional interference in order to fulfil the mullahs’ expansionists and warmongering agenda.
Indeed, the dire economic situation and the Regime’s bid to increase funding for their malign military adventures sparked nationwide anti-regime protests in late December, which continue to this day.
The protests began over a leaked budget that proposed cutting subsidies for the poor and increasing spending on the suppressive security forces. Importantly, the budget was implemented in March without any significant change.
Ellen R. Wald, Ph.D., a geopolitics expert, wrote on Forbes: “It is important to continue watching the economic situation in Iran, because historically economic issues have typically led to the most significant political unrests in that country.”
Many see these protests as the final blow for the Iranian Regime and believe that the Iranian people will soon rise up against the mullahs and bring forth a free and democratic Iran.
Source » ncr-iran