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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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