Nicaragua's Ortega sacks Central Bank president

Nicaraguan Central Bank President Alberto Guevara was fired on Monday is the factual part of the news. This news was reported in an article in Tico Times.

From the article:

Presidency spokeswoman and First Lady Rosario Murillo said Guevara would leave the Central Bank and fill a different governmental role, although she didn’t say which one. Murillo said the decision was made by President Daniel Ortega.

I expect there will be more to the story as the dust settles.

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yet again...

More ruling by decree from comrade Danny -- he also removed the previous central bank prez by dictatorial ( oops "presidential" decree ). So much for the autonomy of the central bank. So much for the rule of law.

viva la robolucion

Don't get too carried away

While everything you said is correct, I expect this is usually a political appointee much like the chairman of the federal reserve bank is. While not a part of the Government the president still appoints him. In the US the fed chair has a term, but apparently not here.

1st Capt. Ron

(Title by Miskito Alan)

Not that the comparison wiht the USA is relevant but....

Yes, it is a political appointment in so far as the law of the Banco Central states that the President of the Republic of Nicaragua put forward a name and it is then ratified by the assembly.

The Bank President is a 5 year term but the law actually says for a term equal to the President of the Republic of Nicaragua...so that could mean "For Life".

Manuel Guillen Did

a cartoon on the subject, suggesting Guevara wasn't doing things "our way".

The Chamu is dressed in robes of an empress, with a Mercedes Benz star on top of her crown.

I tried to paste it here, but no cigar.

No comprendo

Could someone explain this theory to me? My SO mentioned it, and in the few years that I've been following NicaLiving, it seems like there have been more central bank heads than Christmases (but what a surprise!).

What I don't understand about the political pawn theory is, why do they have to be replaced so often?

There are plenty of political appointees in the US and elsewhere, and they're rarely replaced on an annual basis.

3rd world politics

I think this is an extension of "Blame the USA". If the economy is doing bad it isn't because of bad decisions Ortega made. By definition it MUST therefore be the fault of central bank. --- Political cover.

1st Capt. Ron

(Title by Miskito Alan)