Iran's Economic Woes Spark Widespread Protests

A wave of public anger, initially sparked by a drastic fall in the national currency, is sweeping across Iran, with demonstrations now extending far beyond the capital, Tehran, for a third consecutive day. The unrest highlights deep-seated frustration over the nation's economic struggles, which are increasingly spilling over into direct challenges against the government. The protests ignited on Sunday after the Iranian rial plummeted to an unprecedented low against the US dollar on the open market. This economic shockwave prompted shopkeepers in Tehran's historic Grand Bazaar, a vital commercial hub, to close their doors in protest, setting off a chain reaction across the country. Since then, verified footage shows the movement has gained significant momentum, with citizens taking to the streets in at least eight other cities, including major centres like Karaj, Isfahan, and Shiraz. Authorities have responded with tear gas in attempts to disperse crowds, underscoring the escalating tension between the populace and the state. The Iranian government has acknowledged the public's grievances, stating it will listen "with patience, even if it is confronted with harsh voices." In a notable move, President Masoud Pezeshkian has instructed his interior minister to engage with what he described as "representatives" of the protesters to find solutions. Adding to the sense of urgency, the nation's central bank governor has resigned, with a former economy minister stepping into the crucial role. However, the protests appear to be evolving beyond purely economic concerns. University students have joined the demonstrations, chanting direct anti-government slogans, including "Death to the dictator" – a clear reference to the Supreme Leader, Ayatollah Ali Khamenei, who holds ultimate power. Intriguingly, some voices have even invoked the memory of the pre-1979 monarchy, expressing support for the son of the late Shah, Reza Pahlavi, who now lives in exile. Pahlavi himself has publicly backed the demonstrators, asserting that victory is inevitable due to the "just cause" and unity. The international community is watching closely. The US State Department has praised the courage of the Iranian people, expressing solidarity with those seeking "dignity and a better future" after years of economic mismanagement. This internal turmoil comes amidst ongoing international tensions, with recent discussions between US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu reportedly focusing heavily on Iran. While Trump avoided endorsing regime change, he acknowledged Iran's "tremendous inflation" and "bust" economy. The US President also hinted at potential support for further Israeli strikes if Iran were to rebuild its ballistic missile or nuclear programmes, a sensitive issue given past US actions. Iran, for its part, has vowed a "severe and regret-inducing" response to any "oppressive act of aggression." The Supreme Leader has previously dismissed similar unrest as external attempts to sow "sedition," suggesting a complex interplay of internal discontent and geopolitical pressures. --- Managing your business finances? TaxAce provides smart online accountancy services for UK businesses with flexible monthly plans. Image and reporting: https://www.bbc.co.uk | Read original article