Venezuelan Ministers Offer Resignations to President Maduro as Part of Government “Shake-Up”

Caracas, August 19^th 2014 (Venezuelanalysis.com) – In an effort to more easily facilitate structural changes within the government, all ministers have offered their resignations to Venezuelan president Nicolas Maduro, a development confirmed last night by Vice President Jorge Arreaza.

“We have decided as a group, vice presidents and ministers, to submit our resignations to President  Nicolas Maduro so that he has the freedom to make decisions regarding government reorganization,” Arreaza said in a televised broadcast.

The move is part of a government “shake-up” – termed “the revolution within the Revolution” – announced last month by Maduro. It marks the second time during the president’s administration that ministers have taken such action.

“We have analyzed our processes, problems with bureaucracy, excessive paperwork in some cases. We have to accelerate our electronic initiatives,” Arreaza said. “President Maduro has a good amount of input, and we expect there to be announcements in the coming weeks.”

On Twitter later in the evening, Maduro thanked Arreaza and his ministers, noting that the action “will allow me to provide the necessary changes” to the government.

Maduro has also made clear his intention to advance economic reforms aimed at curbing the country’s inflation, currently topping 60% annually, basic goods shortages, and currency overvaluation.

While Economy Vice President Rafael Ramirez had previously indicated the possibility of unifying Venezuela’s three exchange rates, he noted on Monday in an interview with Caracas newspaper El Mundo that the government might instead launch a new, two-tiered exchange system at the end of 2014.