The new Minister of Economy, Finance and Planning, Jorge Giordani, have had major conflicts with the president of the Central Bank, which would be the main reason for his resignation.

Giordani would have Vasquez Orellana’s successor already in mind and that would be former Minister Jose Rojas, representative of Venezuela to the World Bank.

Vasquez Orellana was aide to Defense Minister and Vice president Colonel Ramon Carrizalez , who also resigned yesterday alleging also “strictly personal reasons”.

Moreover, government sources claimed that former Central Bank president was against the creation of the Banco del Bicentenario because it had little private support. This bank is a new government-run financial entity that will bring together the private banks intervened by the government, Central Banco Universal, Banco Real, Confederadoand state-run Banfoandes.