At its July 16 session, the National Assembly (NA) proposed the appointment of an “ad hoc board” for the Central Bank of Venezuela (BCV), considering that the current members of that body are illegitimate. The officials elected by the NA are: Ricardo Villasmil, Ruth de Krivoy, Nelson Lugo, Manuel Rodríguez and Guaicoima Cuius. The president of the NA, Juan Guaidó, must approve the application and appoint the five candidates by decree.

According to the legislators, the ad hoc board will have the mission of “rescuing and protecting Venezuela’s international reserves”. In addition, it will remain operational until “it fulfills its objective or the autonomy of the BCV is restored”.

The NA’s decision caused confusion because the body had originally approved the creation of the ad hoc board and the appointment of its members. However, one of the elected officials, Ruth de Krivoy, claimed not to be aware of the appointment. For that reason, legislators of the NA went out to clarify that the measure will not enter into force until the president of the NA, Juan Guaidó, approves it.