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The creation of the Banco Central de Venezuela took place against a backdrop of great political, social and economic changes in the world. Aside from the start of the Second World War, the country itself was starting a great debate about the political and economic direction which Venezuela should take following the 27-year rule of General Juan Vicente Gómez. The new government worked out a national plan called the February Program, which foresaw a series of economic policy measures, one of the most important of which was the foundation of the Central Bank.
Governor: Nelson José Merentes Diaz