President Rodrigo Paz of Bolivia announced Wednesday the selection of Marcelo Blanco to head the nation’s energy and hydrocarbons ministry, marking a significant cabinet change fewer than six months after the current administration began.
Blanco brings experience from his previous role overseeing electricity and renewable energy initiatives as vice minister.
The ministerial replacement of Mauricio Medinaceli occurs during a challenging period for Bolivia, which is experiencing severe fuel shortages and a shortage of U.S. currency. The nation’s foreign currency reserves continue to decline due to reduced energy production and falling export revenues.
When Paz assumed the presidency in November, he ended nearly twenty years of leftist governance. His administration has pledged to welcome private sector investment in certain economic areas and shut down unprofitable government-owned enterprises as part of efforts to address the country’s worsening financial situation.
