Venezuela’s Cabinet Reshuffle

The cabinet of the Venezuelan government was shaken on Wednesday as President Nicolas Maduro named the new economic czar who will manage the country’s OPEC system by which is considered as “decaying”.  The newly-elect oil minister is responsible for withstanding every economic problem especially petroleum prices. The position will be pass to Nelson Martinez, former Director of a fuel marketer - CITGO.

While ex-minister Eulogio Del Pino, the president of a state-owned oil company, PDVSA will remain on his position.  The 54-year old leader further replaced Aristobulo Isturiz with Tarek El Aissami as the new Vice President.

Moreover, the shuffling of the cabinet is common practice within the country which started from the 14-year ruling of Hugo Chavez, who is a socialist leader died in 2013 due to cancer.

Barely, a year ago the Bolivarian Republic have constituted another economic team intended to promote market-based currency trading platform, however, the plan was unaccomplished until its promoters were removed due to cabinet rotation.