Venezuela's President sacks the head of Central Bank

Pulse 20:27 - 22 January 2017

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Venezuela's Central Bank chief Nelson Merentes was fired on January 22, 2016, amid a deep economic crisis aggravated a botched attempt to replace the country's largest bank note

Speaking on his weekly television program, Maduro announced that Central Bank head Nelson Merentes, has resigned.

President Nicolas Maduro on Sunday announced the firing of Venezuelas Central Bank chief, amid a deep economic crisis worsened by the recent bungled release of bigger denomination banknotes.

Speaking on his weekly television program, Maduro announced that Central Bank head Nelson Merentes -- who has been under intense pressure after the banknote debacle -- has handed in his resignation.

The left-wing Venezuelan leader announced that he has tapped economist Ricardo Sanguino to succeed Merentes.