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Nicaragua’s Ortega sacks Central Bank president

April 10, 2014

Nicaraguan Central Bank President Alberto Guevara was fired Monday for reasons that haven’t yet been made public, an official source said.

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.

Ovidio Reyes, who served as a Central Bank manager, will replace Guevara, Murillo said.

Guevara took over as head of the bank in February 2012 following the removal of his predecessor, Antenor Rosales, amid rumors that he disagreed with the Ortega administration on economic policies.

Before serving as the bank’s president, Guevara had served as finance minister since 2007, when Ortega returned to office. He oversaw negotiations with the International Monetary Fund, which resulted in a positive rating for the country’s economy by that institution.

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