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Maduro swears in members of cabinet

Tuesday, April 23, 2013 - 00:32

April 23 - Venezuelan President Nicolas Maduro swears in members of his new cabinet. Rough Cut (no reporter narration).

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EDIT CONTAINS 4:3 MATERIAL Venezuela's new President Nicolas Maduro swore in his new cabinet on Monday (April 23), keeping on many familiar faces from the late Chavez's administration while reshuffling other government officials loyal to the country's "21st century socialism" to key ministerial posts. Following a series of currency devaluations and to a post that must be approved by Congress, Maduro replaced the country's former Central Bank President Nelson Merentes with former Commerce Minister Edmee Betancourt. Merentes, an ally of the late socialist leader Hugo Chavez who served two previous stints as finance minister, was declared the country's finance minster. The appointment was seen positively by some experts who argue the move may signal the OPEC nation may be headed toward a more pragmatic approach to rising inflation and slowing growth. Among other announcements was the re-appointment of Chavez's oil minister Rafael Ramirez, a long-time Chavez ally keen to push for a minimum price of $100 per barrel amongst OPEC nations and increasing production to 3.5 million barrels per day.

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Maduro swears in members of cabinet

Tuesday, April 23, 2013 - 00:32