Venezuela president Nicolas Maduro on
Sunday named a longtime ruling Socialist Party lawmaker as the new head of the
central bank as the oil-rich nation tries to turn around a devastating economic
crisis. Ricardo Sanguino, who has been a legislator since 2000 and headed the
National Assembly’s budget commission, replaces Nelson Merentes, a
mathematician whose leadership of the bank since 2009 has been marked by
frenzied money printing to pay for populist government programs, contributing
to a free fall in the value of the local currency, the bolivar. More… 
Monday, January 23, 2017
Venezuela Names Ricardo Sanguino New Head of Central Bank
Venezuela president Nicolas Maduro on
Sunday named a longtime ruling Socialist Party lawmaker as the new head of the
central bank as the oil-rich nation tries to turn around a devastating economic
crisis. Ricardo Sanguino, who has been a legislator since 2000 and headed the
National Assembly’s budget commission, replaces Nelson Merentes, a
mathematician whose leadership of the bank since 2009 has been marked by
frenzied money printing to pay for populist government programs, contributing
to a free fall in the value of the local currency, the bolivar. More… 
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