President Nicolas Maduro on Sunday announced the firing of Venezuela's Central Bank chief, amid a deep economic crisis worsened by the recent bungled release of bigger denomination banknotes.
Speaking on his weekly television program, Maduro announced that Central Bank head Nelson Merentes - who has been under intense pressure over the banknote debacle - has handed in his resignation. "I would like to thank Nelson Merentes for all the effort he has made at various battlefronts, but I want us to initiate a new stage in the development of the Central Bank of Venezuela," the left-wing Venezuelan leader declared, announcing that he has tapped economist Ricardo Sanguino to succeed Merentes.
He said he has great confidence in Sanguino, 73, a longtime political player who has headed the Budget Committee in Venezuela's National Assembly among other key posts.
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