Maduro Taps Finance Minister as Venezuela Central Bank Head
- Lobo not seen as key decision maker in Maduro’s administration
- Investors more concerned with looming bond payments by PDVSA
How Venezuela Has Managed to Avoid Sinking Into Default
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Venezuelan President Nicolas Maduro appointed Finance Minister Ramon Lobo as the country’s new central bank president, replacing Ricardo Sanguino.
The decision to name Lobo to the central bank was announced by the all-powerful constituent assembly, which is run by government loyalists after the opposition boycotted the election of officials in late July. Lobo had only been in the role since January and didn’t oversee any meaningful changes of the crisis-stricken economy. No immediate replacement for Lobo was announced.