Maduro Picks Central Bank Head

Nicolas Maduro has tapped former commerce minister Edmee Betancourt for the role of president of Venezuela’s central bank. The nomination made by the Venezuelan president remains to be approved by the country’s National Assembly. Barclays flags the move as problematic. “This is not a positive nomination as we believe Betancourt – who is an ally of Jorge Giordani – will continue with the policy of subordinating the BCV to the Executive power,” the shop says. Following approval, she would take the spot left vacant by Nelson Merentes, who has been named finance minister.