CARACAS — President Nicolas Maduro has replaced Venezuela’s longtime oil boss and economic czar, sidelining the most prominent voice within his administration for pragmatic reforms to tackle a deep economic crisis.
Rafael Ramirez had served as oil minister and president of the state-run oil giant PDVSA for more than a decade, earning a reputation as a loyal servant of the late Hugo Chavez’s socialist revolution. He saw his power within the government expand dramatically a year ago when Maduro tapped him as vice president for economic policy, giving him effective oversight of everything from the country’s foreign currency reserves to the price of gasoline.
As part of what Maduro called a new assignment, Ramirez was designated foreign minister and given a newly created position of vice president for political sovereignty.
Maduro’s Cabinet shuffle Tuesday night was widely anticipated after his ministers collectively offered their resignations two weeks ago.
Asdrubal Chavez, an engineer and cousin of the late president, will step in as oil minister, while current Finance Minister Rodolfo Marco Torres will be top economic policy maker.