Chavez takes control of Venezuelan Central Bank

The Venezuelan government has regained control of the central bank following a parliamentary vote on Wednesday.

The central bank must, according to the new law, work with the executive branch of the government "in strict and compulsory cooperation to outline monetary policies".

The Central Bank had achieved independence in 1999.

Hugo Chavez, Venezuela's president, proposed the measures last August.

New currency

Also on Wednesday, the central bank revealed the designs of its new currency, the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.