Guevara named head of Central Bank

(posted Feb. 14, 10:40 a.m.)- The rumors about ouster of Central Bank President Antenor Rosales are true.

President Daniel Ortega this morning named Finance Minister Alberto Guevara as the new head of the Central Bank, according to a government release.

Sandinista head lawmaker Edwin Castro, who yesterday said he didn’t know anything about the rumors, made the announcement this morning, saying that Guevara’s nomination was being sent to the Sandinista-controlled National Assembly for immediate ratification.

Rosales was considered one of the keys to the Sandinista government’s macroeconomic stability and successful negotiations with the International Monetary Fund (IMF).

Rosales’ rumored fallout with Ortega started last week, when the Central Bank president appeared to challenge President Ortega’s call to move money from Nicaragua’s international reserves to the upstart Bank of ALBA, or BALBA.

There was no immediate reaction to the Central Bank shakeup from Rosales or Nicaragua’s business community.

  • Jaime Silva

    Good luck getting new foreign and national investors!